Primary Health Properties PLC Acquisition of Chelmsley Associates Limited (9579Q)
September 18 2017 - 2:00AM
UK Regulatory
TIDMPHP
RNS Number : 9579Q
Primary Health Properties PLC
18 September 2017
18 September 2017
Primary Health Properties PLC
Acquisition
Primary Health Properties PLC ("PHP" or the "Company"), the UK's
leading investor in modern primary healthcare facilities, announces
that it has acquired the entire issued share capital of Chelmsley
Associates Limited, a company whose sole asset is the Croft Medical
Centre a modern, purpose built primary care centre in Chelmsley
Wood, Birmingham for a for a total consideration of GBP4.67 million
(net assets of GBP4.67 million).
The Croft Medical Centre is modern and high quality, having been
completed in 2015. The property, which is fully let to the partners
of the GP practise, has an unexpired lease term of over 23 years.
It is the largest healthcare centre within the local health
economy, comprising 1,175 m(2) , with a patient list size in excess
of 11,000.
This acquisition will increase PHP's portfolio to a total of 304
assets with a gross value of in excess of GBP1.3 billion and a
contracted rent roll of just over GBP70 million.
Harry Hyman, Managing Director of Primary Health Properties,
commented:
"Croft Medical Centre is a positive addition to the portfolio
and meets all of our investment criteria, with the added advantage
of being located within a new wider community led development,
which also includes a school, dentist and pharmacy. The unexpired
term is accretive to the overall portfolio and the building
represents a modern purpose built dedicated healthcare facility
with the benefit of onsite car parking. We are well positioned to
continue growing the portfolio and enjoy a strong pipeline of
potential acquisitions in the UK and Ireland."
More information on Primary Health Properties PLC can be found
on www.phpgroup.co.uk
Legal Entity Identifier: 213800Y5CJHXOATK7X11
Further details:
Harry Hyman Richard Howell
Managing Director Finance Director
Tel: +44 (0) 20 7451 Tel: +44 (0) 20 7104
7050 5599
This information is provided by RNS
The company news service from the London Stock Exchange
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