Primary Health Properties PLC Republic of Ireland Acquisition (4295N)
09 5월 2018 - 3:01PM
UK Regulatory
TIDMPHP
RNS Number : 4295N
Primary Health Properties PLC
09 May 2018
9 May 2018
Primary Health Properties PLC
Republic of Ireland Acquisition
Primary Health Properties PLC ("PHP"), one of the UK's leading
investors in modern primary healthcare facilities, announces that
it has acquired a modern, purpose built primary care centre in the
Republic of Ireland.
Primary Health Properties ICAV, an Irish investment vehicle
wholly owned by PHP, has acquired the Mountmellick Primary
Healthcare Centre ("Mountmellick") for a total cost of EUR5.80
million (net assets acquired EUR5.80 million).
The centre comprises of circa 1,600m(2) and there is a separate
pharmacy of circa 230m(2) with both elements being fully let. The
Health Service Executive ("HSE") accounts for circa 65% of the
total rent roll and the combined unexpired term certain is circa
18.50 years. The HSE is the government's executive agency which
provides Ireland's public health services in communities across the
country.
This acquisition, PHP's fourth in Ireland, increases PHP's
portfolio to a total 308 assets, with a gross value of over
GBP1.375 billion and a contracted rent roll of over GBP73.5
million. The gross value of the Irish portfolio is now in excess of
EUR40m.
Harry Hyman, Managing Director of PHP, commented:
"We are delighted that our portfolio in Ireland is continuing to
grow and that our acquisition programme is gathering momentum. We
remain committed to the continued growth of our portfolio in the
Republic of Ireland, a market where we see significant potential
due to the need to modernise the primary care infrastructure and
widen the provision of healthcare services. Mountmellick is a
well-placed modern primary care centre providing local integrated
care via the HSE, GPs and pharmacy. The majority of the income is
secured against a government backed tenant with a long unexpired
term and is therefore substantially in line with our target
acquisition profile. We have a strong pipeline of 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
-Ends-
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
/ Tilly Abraham
(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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