Primary Health Properties PLC Republic of Ireland Acquisition (3781U)
12 7월 2018 - 3:00PM
UK Regulatory
TIDMPHP
RNS Number : 3781U
Primary Health Properties PLC
12 July 2018
12 July 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 contracted to fund and acquire a significant purpose built
primary care centre ("PCC") in the Republic of Ireland.
Primary Health Properties ICAV, an Irish investment vehicle
wholly owned by PHP, has contracted to provide development funding
for the construction of a new primary care centre in Bray, County
Wicklow, for a total consideration of EUR22.3 million (net assets
acquired EUR22.3 million).
The centre will comprise of circa 4,800m(2) of lettable space
and approximately 70 per cent of the rent roll is contracted to the
Health Service Executive ("HSE") on a 25 year lease. The HSE is the
Irish government's executive agency which provides public and
health services in communities across the country. The remainder of
the premises will be let to a GP practice, pharmacy, coffee shop
and car park operator. Construction work is expected to be
completed by autumn 2019.
This acquisition, PHP's fifth in the Republic of Ireland,
increases PHP's portfolio to a total of 310 assets, with a gross
value of over GBP1.395 billion and a contracted rent roll of
GBP74.7 million.
Harry Hyman, Managing Director of PHP, commented:
"This acquisition will provide a substantial new purpose built
PCC in suburban Dublin and reinforces our progress in growing our
Irish portfolio, a market where we see significant potential due to
the Irish government's commitment to modernise the primary care
infrastructure and widen the provision of healthcare services in
local communities. This acquisition is in line with our strategy of
investing in purpose built centres offering a range of healthcare
services and with the majority of the income secured against a
government backed tenant with a long unexpired term. 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
LEI: 213800Y5CJHXOATK7X11
-Ends-
Further details:
Harry Hyman
Managing Director
Tel: +44 (0) 20 7451 7050 Richard Howell
Finance Director
Tel: +44 (0) 20 7104 5599
David Rydell / Steph Watson / Tilly Abraham
(Buchanan Communications)
Tel: +44 (0) 20 7466 5066
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END
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July 12, 2018 02:00 ET (06:00 GMT)
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