Primary Health Properties PLC Disposal of 13 assets for GBP27.7 million (6016R)
July 07 2022 - 2:00AM
UK Regulatory
TIDMPHP
RNS Number : 6016R
Primary Health Properties PLC
07 July 2022
Primary Health Properties PLC
("PHP" or the "Group")
Disposal of 13 assets for GBP27.7 million
Primary Health Properties PLC ("PHP"), one of the UK's leading
investors in modern primary healthcare facilities, announces that
it has exchanged contracts to sell a portfolio of 13 smaller
medical centres, located across England and Wales, for a price of
GBP27.7 million.
The sale price is 13% above PHP's 31 December 2021 book value,
representing around 60bps of yield compression.
Following completion of the sale, which is anticipated to take
place later in July 2022, PHP's portfolio will comprise 511 assets,
of which 20 are in Ireland, with a contracted rent roll of just
under GBP143 million.
Harry Hyman, Chief Executive Officer of Primary Health
Properties, commented:
"We are delighted to have been able to achieve such a strong
price for this portfolio of medical centres, which comprises
smaller facilities significantly below our average lot size. The
disposal will allow us to deploy the proceeds into our strong
pipeline across the UK and Ireland which we believe will deliver
stronger returns."
More information on Primary Health Properties PLC can be found
on 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 /
H annah Ratcliff
(Buchanan Communications)
Tel: +44 (0) 20 7466 5066
Legal Entity Identifier: 213800Y5CJHXOATK7X11
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