Primary Health Properties PLC Acquisition and Forward Funding Acquisition (2360J)
21 12월 2020 - 4:00PM
UK Regulatory
TIDMPHP
RNS Number : 2360J
Primary Health Properties PLC
21 December 2020
Primary Health Properties PLC
Acquisition and Forward Funding Acquisition
Primary Health Properties PLC ("PHP"), one of the UK's leading
investors in modern primary healthcare facilities, announces that
it has acquired a standing let investment in West Derby, Liverpool
and contracted with a developer to fund the development and
acquisition of a purpose-built primary care centre in Enniscorthy,
Co Wexford, Ireland.
PHP has acquired the West Derby Medical Centre, a modern
purpose-built medical centre constructed in 2016, for a total cost
of GBP4.6 million. The property is leased to a substantial GP
practice, with a patient list of over 13,000 patients, and a
pharmacy.
PHP has also contracted to provide development funding for the
construction of the Enniscorthy Primary Care Centre in for a total
cost of EUR12.6 million. Agreements for lease have been entered
into for an initial term of 25 years with the Health Service
Executive and a local GP practice and further leases are
anticipated to be agreed with TUSLA (Ireland's Child and Family
Agency) and a pharmacy, prior to practical completion of the
building anticipated in Q1 2022. The acquisition will be accretive
to the overall WAULT of the PHP portfolio and provide for a strong
government backed covenant.
These two transactions will increase PHP's overall portfolio to
a total of 513 assets, of which 18 are in Ireland. The PHP
portfolio has a contracted rent roll of approximately GBP135.3
million, WAULT of over 12 years and an occupancy rate of 99.5%.
Harry Hyman, Managing Director of Primary Health Properties,
commented:
"We are delighted to announce these transactions, which includes
one of a number of development projects the Group is pursuing at
present. Both properties will support our strategy of investing in
the health of our communities by providing modern facilities to
deliver a wide-range of primary care services. 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
Managing Director Finance Director
Tel: +44 (0) 20 7451 7050 Tel: +44 (0) 20 7104
2004
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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