Primary Health Properties PLC Development Completion (5397J)

TIDMPHP

RNS Number : 5397J

Primary Health Properties PLC

20 August 2019

Primary Health Properties PLC

Development Completion

Primary Health Properties PLC ("PHP"), one of the UK's leading investors in modern primary healthcare facilities, announces it has reached practical completion on two developments from separate developers at Glynneath and Langwith at a total cost of GBP6.4 million (GBP4.6 million and GBP1.8 million respectively).

The properties are let on 20 year leases to respectively the Abertawe Bro Morgannwg University Health Board and the Derbyshire Community Health Services NHS Foundation Trust whilst there is also a pharmacy unit at Glynneath. This represents a combined 87% government backed income across both properties.

PHP's portfolio now consists of a total of 484 assets with a gross value of GBP2.35 billion with a contracted rent roll of just under GBP126 million.

Harry Hyman, Managing Director of Primary Health Properties, commented:

"I am pleased to announce the completion of these two new medical centres which provide modern, purpose built facilities for the delivery of a range of primary healthcare needs for patients in Glynneath and Langwith and the immediate surrounding areas. We have a strong pipeline of opportunities in the UK and Ireland and are well positioned to continue to grow our portfolio and to support the healthcare systems in these markets through the provision of modern, primary care infrastructure."

More information on Primary Health Properties PLC can be found on www.phpgroup.co.uk

Further details:

 
Harry Hyman                              Richard Howell 
 Primary Health Properties PLC            Primary Health Properties PLC 
 T +44 (0) 20 7451 7050                   T +44 (0) 20 7104 2004 
 harry.hyman@nexusgroup.co.uk             richard.howell@nexusgroup.co.uk 
---------------------------------------  -------------------------------- 
David Rydell/Steph Watson/Tilly Abraham 
 Buchanan 
 T +44 (0) 20 7466 5066 
---------------------------------------  --------------------------------

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August 20, 2019 02:00 ET (06:00 GMT)

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