Primary Health Properties PLC Republic of Ireland Acquisition (4151Q)
19 2월 2019 - 4:01PM
UK Regulatory
TIDMPHP
RNS Number : 4151Q
Primary Health Properties PLC
19 February 2019
19 February 2019
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 purpose built primary care
centre 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 Athy, Co.
Kildare, for a total cost of EUR11.4 million (net assets acquired
EUR11.4 million).
The centre will comprise 3,975m(2) of lettable space and
approximately 80% of the rent roll will be contracted to the Health
Service Executive ("HSE") and TUSLA on 30 year leases. The HSE is
the Irish government's executive agency which provides Ireland's
public health services in communities across the country and TUSLA
is the Irish government's Child and Family agency. The remainder of
the premises will be pre-let to a GP practice, pharmacy, and retail
operator. Construction work is expected to be completed in early
2020.
This acquisition, PHP's ninth in Ireland, increases PHP's
portfolio to a total of 316 assets, with a gross value of over
GBP1.5 billion and a contracted rent roll of just under GBP80
million. The gross value of the Irish portfolio is now approaching
EUR120 million of committed capital.
Harry Hyman, Managing Director of PHP, commented:
"This acquisition will provide a substantial new purpose built
primary care centre 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. The acquisition of the completed centre 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 government backed tenants 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
-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
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