Primary Health Properties PLC Forward Funding Acquisition (9608B)
05 2월 2020 - 4:00PM
UK Regulatory
TIDMPHP
RNS Number : 9608B
Primary Health Properties PLC
05 February 2020
Primary Health Properties PLC
Forward Funding Acquisition of New Primary Care Centre at
Llanbradach
Primary Health Properties PLC ("PHP"), one of the UK's leading
investors in modern primary healthcare facilities, announces that
it has contracted with a developer to fund the development and
acquisition of a purpose-built primary care centre in Llanbradach,
near Caerphilly in Wales for a total cost of GBP2.8 million.
The property will be let to the Aber and Village Medical
Practices, for an initial term of 25 years from practical
completion of the property. The letting will be accretive to the
overall WAULT of the PHP portfolio and provide for a strong
government backed covenant. The building will comprise an area of
667m(2) .
This acquisition will increase PHP's portfolio to a total of 489
assets with a gross value of just over GBP2.4 billion and a
contracted rent roll of just under GBP128 million.
Harry Hyman, Managing Director of Primary Health Properties,
commented:
"We are delighted to announce this transaction, one of a number
of development projects the Group is pursuing at present funded
with the proceeds of our successful GBP100 million placing in
September 2019. The transaction improves the quality of our
portfolio by delivering a new facility with a long unexpired lease
term. We continue to have a strong pipeline of opportunities in the
UK and Ireland and are well positioned to continue to grow our
portfolio."
More information on Primary Health Properties PLC can be found
on www.phpgroup.co.uk
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
Legal Entity Identifier: 213800Y5CJHXOATK7X11
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END
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