Primary Health Properties PLC Forward Funding Acquisition of New Medical Centre (0273T)
18 3월 2019 - 4:00PM
UK Regulatory
TIDMPHP
RNS Number : 0273T
Primary Health Properties PLC
18 March 2019
18 March 2019
Primary Health Properties PLC
Forward Funding Acquisition of New Medical Centre in Kew
Primary Health Properties PLC ("PHP"), one of the UK's leading
investors in modern primary healthcare facilities, is pleased to
announce that, following the merger with MedicX Fund Limited, it
has contracted to acquire, by way of forward funding, a new primary
healthcare medical centre in Kew, London. The property is due to be
completed in October 2019 and will have a net internal area of
approximately 845m(2) for a total cost of GBP4.6 million.
The main tenant of the completed development will be the GPs of
the North Road Surgery on a 25 year lease with three yearly reviews
to market rent. A social prescribing charity, CWC, is taking a five
year lease of the remaining area.
CWC has been set up to work in partnership with the NHS and
Local Authorities in the delivery of new, purpose built primary
care centres in London with a view to the better integration of
primary health, social and community care in local communities. Its
aim is to reduce residents' reliance on the NHS as the first port
of call for every ailment, however minor, and to deliver social
prescribing programmes aimed at illness prevention as an integral
part of primary care service delivery.
The acquisition increases PHP's total portfolio, following
completion of the merger with MedicX Fund Limited, to 484 assets,
of which seven are currently under construction, with a gross value
of over GBP2.3 billion and a contracted rent roll of over GBP125.0
million.
Harry Hyman, Managing Director of PHP, commented:
"We are delighted to announce this transaction, which is the
first opportunity that has come through as part of the merger with
MedicX, from which we see significant opportunities to grow our
portfolio and support the modernisation of the primary care
infrastructure and widening of the provision of healthcare
services. 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
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 (Buchanan
Communications)
Tel: +44 (0) 20 7466 5066
Legal Entity Identifier: 213800Y5CJHXOATK7X11
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END
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