Primary Health Properties PLC Completion of first investment in Ireland (8753M)
19 10월 2016 - 3:00PM
UK Regulatory
TIDMPHP
RNS Number : 8753M
Primary Health Properties PLC
19 October 2016
19 October 2016
Primary Health Properties PLC
Completion of first investment in the Republic of Ireland
Primary Health Properties PLC ("PHP"), the UK's leading investor
in modern primary healthcare facilities, announces that it has
completed the acquisition of its first primary care centre in the
Republic of Ireland.
Primary Health Properties ICAV, an Irish investment vehicle
wholly owned by PHP, has taken delivery of a new, purpose built
primary care centre in Tipperary following completion of its
construction, for a total cost of EUR6.7 million (net assets
acquired EUR6.7 million).
The centre comprises circa 2,800m(2) , is fully let and rent
producing. Three quarters of the rent roll is contracted to the
Health Service Executive ("HSE") for a 25 year lease term. The HSE
is the government's executive agency which provides Ireland's
public health services in communities across the country. The
remainder of the rent roll comes from 25 year leases to a group of
GPs and a national pharmacy operator.
This acquisition is PHP's first in the Republic of Ireland and
increases its portfolio to 294 assets, with a gross value of over
GBP1.2 billion and a contracted rent roll of GBP67.4 million.
Harry Hyman, Managing Director of PHP, commented:
"We are delighted to have completed our first acquisition in the
Republic of Ireland. Much like the UK, Ireland is experiencing
increasing demands on its healthcare system and there is a
significant need to provide modern, high quality primary care
facilities to meet these demands. PHP has a strong pipeline of
earnings enhancing opportunities in the UK and Republic of Ireland
through which we will continue to grow the value of the portfolio
and returns to shareholders."
More information on Primary Health Properties PLC can be found
on www.phpgroup.co.uk
Further details:
Harry Hyman Phil Holland
Managing Director Finance Director
Tel: +44 (0) 20 7451 Tel: +44 (0) 20 7104
7050 5599
David Rydell / Elizabeth
Snow /
Eve Kirmatzis
Bell Pottinger
T +44 (0) 20 3772 2582
This information is provided by RNS
The company news service from the London Stock Exchange
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October 19, 2016 02:00 ET (06:00 GMT)
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