Primary Health Properties PLC

M&A Activity • Jul 25, 2022

National Storage Mechanism | Additional information

RNS Number : 5257T

Primary Health Properties PLC

25 July 2022

Primary Health Properties PLC

("PHP" or the "Group")

Acquisition of Medical Centre in Newbury

Primary Health Properties, one of the UK's leading investors in modern primary healthcare facilities, announces that it has acquired the Strawberry Hill Medical Centre, Newbury for a total consideration of £7.25 million. 

The property is fully let to two GP practices, providing 100% government backed income, with an unexpired term of 19 years; serving substantial patient lists; and benefiting from facilities for carrying out broader medical services such as minor operations and blood tests.

Following completion, PHP's portfolio will comprise 512 assets, of which 20 are in Ireland, with a contracted rent roll of £143 million.

Harry Hyman, Chief Executive Officer of Primary Health Properties, commented:

"We are delighted to have acquired this medical centre which acts as a hub for the delivery of primary care and broader medical services in the growing town of Newbury.  The property also provides accommodation for district nurses, a clinical pharmacy and social prescribing services.  

"We have a strong pipeline of opportunities in the UK and Ireland and are well positioned to continue to grow our portfolio selectively 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) 7973 344768

Richard Howell

Chief Financial Officer

Tel: +44 (0) 7766 072272

David Rydell / Steph Whitmore / Hannah Ratcliff

(Buchanan Communications)

Tel: +44 (0) 20 7466 5066

Legal Entity Identifier: 213800Y5CJHXOATK7X11

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

ACQBKQBNOBKDNOB