REG - Primary Health Props - First Net Zero Carbon ("NZC") Direct Development

Primary Health PropertiesAnnouncement

11/04/2022 07:01

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RNS Number : 8390H  Primary Health Properties PLC  11 April 2022

Primary Health Properties PLC

("PHP" or the "Group")

 

First Net Zero Carbon ("NZC") Direct Development

 

Primary Health Properties PLC, one of the UK's leading investors in modern
primary healthcare facilities, announces that it has signed agreements for its
first NZC direct development, a new purpose-built facility in Eastergate, West
Sussex, with a gross development value of £6.7 million.

 

The new building will be one of the first UK healthcare buildings to achieve
this status. NZC will be achieved by measuring, minimising and offsetting
embodied carbon from materials used during construction as well as enabling
occupiers to operate the building with NZC emissions. The building is expected
to deliver high levels of health and wellbeing and achieve BREEAM Excellent
standards and an EPC rating of A, with low levels of waste and water usage,
and the use of responsibly sourced and sustainable materials.

 

The centre will showcase the breadth of medical services available to patients
and the wider Primary Care Network which characterise PHP's modern healthcare
facilities. These services will include general practice (physical, telephone,
video and minor operations), physiotherapy, mental and occupational health,
social prescribing, care co-ordination, clinical pharmacy and training for
GPs, nurses and paramedics.

 

The site has been identified in line with PHP's strategy of addressing the
increasing demand for services in an area following major local population
growth and the transfer of services away from the overburdened local hospital
setting.

 

The development is pre-let to both a GP practice and the local pharmacy for a
25-year term. This transaction will increase PHP's portfolio to a total of 523
assets, of which 20 are in Ireland, with a contracted rent roll of over £141
million. Work is expected to commence imminently with practical completion
expected in Q2 2023.

 

 

Harry Hyman, CEO of Primary Health Properties, commented:

 

"We are delighted to have commenced work on one of the UK's first NZC
healthcare buildings. Starting work on our first NZC direct development is a
significant achievement and demonstrates our strategic commitment to
transitioning all our operational, development and asset management activities
to NZC by 2030 and to help our occupiers achieve NZC by 2040 as set out in our
recently announced NZC Framework.

 

"This development is the first in our strong pipeline of £163 million of
direct development opportunities providing short-cycle and de-risked
development activity, adding high quality assets to the portfolio and
capturing attractive development margins."

 

More information on Primary Health Properties PLC can be found
on www.phpgroup.co.uk (http://www.phpgroup.co.uk/)

 

Further details:

 

 Harry Hyman                                                     Richard Howell

 Chief Executive Officer                                         Chief Financial Officer

 Tel: +44 (0) 20 7451 7050                                       Tel: +44 (0) 20 3833 3342

 David Rydell / Steph Whitmore / Tilly Abraham

(Buchanan Communications)

 Tel: +44 (0) 20 7466 5066

 

 

 

Legal Entity Identifier: 213800Y5CJHXOATK7X11

 

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