Primary Health Properties PLC Forward funding acquisition of new PCC (8467F)
12 3월 2020 - 4:00PM
UK Regulatory
TIDMPHP
RNS Number : 8467F
Primary Health Properties PLC
12 March 2020
Primary Health Properties PLC
Forward Funding Acquisition of New Primary Care Centre in
Epsom
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 fitting out of a
doctors' surgery within a modern residential development in the
centre of Epsom, Surrey. PHP will acquire the long leasehold
interest of the property on completion of the work for a total cost
of GBP4.1 million.
The property will be let to the Ashley Surgery for an initial
term of 20 years from practical completion. 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 a
net internal area of 831m(2) .
This acquisition will increase PHP's portfolio to a total of 490
assets with a gross value of just over GBP2.4 billion and a
contracted rent roll of just over GBP128 million.
Harry Hyman, Managing Director of Primary Health Properties,
commented:
"We are delighted to be able to finance the relocation of an
existing long-standing doctors' practice with a patient list of
over 9,000 to modern new premises, funded with the proceeds of our
successful GBP100 million placing in September 2019. The
transaction continues the improvement of the quality of our
portfolio by delivering a new facility with a long unexpired lease
term and located in a prime location in the commuter town of Epsom.
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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