Primary Health Properties PLC Acquisition (5257T)

TIDMPHP

RNS Number : 5257T

Primary Health Properties PLC

25 July 2022

Primary Health Properties PLC

("PHP" or the "Group")

Acquisition of Medical Centre in Newbury

Primary Health Properties, one of the UK's leading investors in modern primary healthcare facilities, announces that it has acquired the Strawberry Hill Medical Centre, Newbury for a total consideration of GBP7.25 million.

The property is fully let to two GP practices, providing 100% government backed income, with an unexpired term of 19 years; serving substantial patient lists; and benefiting from facilities for carrying out broader medical services such as minor operations and blood tests.

Following completion, PHP's portfolio will comprise 512 assets, of which 20 are in Ireland, with a contracted rent roll of GBP143 million.

Harry Hyman, Chief Executive Officer of Primary Health Properties, commented:

"We are delighted to have acquired this medical centre which acts as a hub for the delivery of primary care and broader medical services in the growing town of Newbury. The property also provides accommodation for district nurses, a clinical pharmacy and social prescribing services.

"We have a strong pipeline of opportunities in the UK and Ireland and are well positioned to continue to grow our portfolio selectively and to support the healthcare systems in these markets through the provision of modern, primary care infrastructure."

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) 7973 344768              Tel: +44 (0) 7766 072272 
 
   David Rydell / Steph Whitmore / 
   H annah Ratcliff 
   (Buchanan Communications) 
   Tel: +44 (0) 20 7466 5066

Legal Entity Identifier: 213800Y5CJHXOATK7X11

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