Primary Health Properties PLC Irish Portfolio grows to over EUR 100 million (7641Z)
05 9월 2018 - 3:00PM
UK Regulatory
TIDMPHP
RNS Number : 7641Z
Primary Health Properties PLC
05 September 2018
5 September 2018
Primary Health Properties PLC
Irish Portfolio grows to over EUR100 million
Primary Health Properties PLC ("PHP"), one of the UK's leading
investors in modern primary healthcare facilities, announces that
it has acquired three modern, purpose built primary care centres in
the Republic of Ireland, increasing the gross value of the Irish
portfolio to over EUR100 million.
Primary Health Properties ICAV, an Irish collective investment
vehicle wholly owned by PHP, has acquired the entire issued share
capital of Jellia Holdings Limited, a company which owns primary
care centres at Navan Road in Dublin and in Newbridge and
Celbridge, two commuter towns just outside Dublin in County Kildare
for a cost of EUR38.6 million (net assets acquired EUR38.6
million).
All three properties are fully let. The HSE, the Irish
government's executive agency, and other government bodies
including TULSA & the Kildare Wicklow Education Training Board
("KWETB") account for circa 63% of the total rent roll at the
properties which have a combined unexpired lease term of
approximately 21 years. The balance is from Centric Health, a
leading UK and Irish Primary healthcare provider, and
pharmacies.
This acquisition, PHP's eighth in Ireland, increases PHP's
portfolio to a total of 313 assets, with a gross value of over
GBP1.4 billion and a contracted rent roll of over GBP75
million.
Harry Hyman, Managing Director of PHP, commented:
"We are delighted to acquire these assets which have
significantly increased the size and value of our portfolio in
Ireland, and where we anticipate continuing to expand, as our
acquisition programme gathers momentum. We are committed to the
Irish market where we see significant potential due to the need to
modernise the primary care infrastructure and widen the provision
of healthcare services. The acquisition is in line with our target
acquisition profile, as the majority of rental income is secured
against a government backed tenant with a long unexpired lease
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
-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
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END
ACQBLGDCXDGBGIS
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