Primary Health Properties PLC

M&A Activity • Dec 14, 2021

National Storage Mechanism | Additional information

RNS Number : 4928V

Primary Health Properties PLC

14 December 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 Parkside Medical Centre in Boston, Lincolnshire for a total consideration of £6.8 million. 

The property is fully let to a substantial GP practice and a pharmacy.  The two leases, with a weighted average unexpired lease term ("WAULT") of 13.5 years, are accretive to the portfolio WAULT and provide for a substantial proportion of government backed income. 

This acquisition will increase PHP's portfolio to a total of 520 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 be making this acquisition of a modern, purpose-built facility in Boston.  Originally constructed in 2009, the property was extended in 2013/14 in order to provide the range of medical services required by the local community, which has allowed the patient list to grow significantly.

"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

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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