Primary Health Properties PLC Completion of EUR20 million acquisition in Ireland (0855G)
27 2월 2018 - 8:07PM
UK Regulatory
TIDMPHP
RNS Number : 0855G
Primary Health Properties PLC
27 February 2018
27 February 2018
Primary Health Properties PLC
EUR 20m Republic of Ireland Acquisition Completed
Further to its announcement on 14 December 2017, Primary Health
Properties PLC ("PHP"), the UK's leading investor in modern primary
healthcare facilities, announces that Primary Health Properties
ICAV, an Irish investment vehicle wholly owned by PHP, has
completed the acquisition of the Mallow Primary Healthcare Centre,
a large modern primary healthcare facility (the "Centre") in County
Cork, Ireland for a total cost of EUR20 million (net assets
acquired EUR20 million).
Prior to completion, the Health Service Executive ("HSE")
entered into a new 25 year lease representing circa 65% of the
total rent roll. The remainder of the rent roll comes from four
separate GP practices, who have entered into long leases and other
complimentary tenants: these include a dentist, optician,
physiotherapist and a pharmacy held on a long leasehold
interest.
Harry Hyman, Managing Director of PHP, commented:
"We are delighted to complete on this important step in building
our portfolio in the Republic of Ireland, a market where we see
significant potential for partnering with the Irish Government due
to its commitment to modernising the primary care infrastructure
and improving the provision of healthcare services in Ireland. The
Centre, as one of the largest modern primary care centres in
Ireland, fits well into the Irish Government's vision for the
delivery of integrated health provision to a local community by
offering a wide range of complimentary services at one location. We
have a strong pipeline of similar acquisitions in the UK and
Ireland and are well positioned to continue growing the portfolio
in both jurisdictions."
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 7050 Tel: +44 (0) 20 7104
5599
David Rydell / Steph Watson
(Buchanan Communications)
Tel: +44 (0) 20 7466 5066
This information is provided by RNS
The company news service from the London Stock Exchange
END
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February 27, 2018 06:07 ET (11:07 GMT)
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