Primary Health Properties PLC

M&A Activity • Nov 15, 2021

National Storage Mechanism | Additional information

RNS Number : 2881S

Primary Health Properties PLC

15 November 2021

Primary Health Properties PLC

("PHP" or the "Group")

Acquisition

Primary Health Properties PLC, one of the UK's leading investors in modern primary healthcare facilities, announces that it has acquired the Bersted Green Surgery, West Sussex, for a total consideration of £5.34 million. 

The property is a modern purpose-built primary care facility which is fully let to a substantial GP practice and a pharmacy. The lease has an unexpired term of over 14 years which is accretive to the overall portfolio WAULT. 

The transaction increases PHP's portfolio to a total of 519 assets, of which 20 are in Ireland, with a contracted rent roll of over £139 million.

Harry Hyman, CEO of Primary Health Properties, commented:

"We are delighted to have acquired this modern primary care centre which provides a range of health services to the local community, including social proscribing, mental health counselling and phlebotomy, and benefits from a high level of government-back income.

"We have a strong pipeline of opportunities in the UK and Ireland and are well positioned to continue to grow our portfolio as we 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

Chief Executive Officer

Tel: +44 (0) 20 7451 7050

Richard Howell

Chief Financial Officer

Tel: +44 (0) 20 7104 5599

David Rydell / Steph Whitmore / Tilly Abraham

(Buchanan Communications)

Tel: +44 (0) 20 7466 5066

Legal Entity Identifier: 213800Y5CJHXOATK7X11

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