Primary Health Properties PLC

M&A Activity • Nov 27, 2017

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RNS Number : 5114X

Primary Health Properties PLC

27 November 2017

27 November 2017

Primary Health Properties PLC

Acquisition

Primary Health Properties PLC ("PHP"), the UK's leading investor in modern primary healthcare facilities, announces that it has acquired a modern, well let, purpose built healthcare facility for a total consideration of £4.37 million (net assets of £4.37 million).

PHP has acquired the entire issued share capital of Wincanton Healthcare Limited, a company whose assets and activity is the ownership of Wincanton Medical Centre, Dykes Way, New Barns, Wincanton, Somerset BA9 9FQ. 

Wincanton Medical Centre was completed in 2011, comprises of 983 m2 and is fully let to the partners of the medical centre and a pharmacy unit let to Boots UK Limited with an unexpired term certain of approximately 19.5 years.

The unexpired term is accretive to the overall portfolio WAULT and the practice is well positioned within the context of the local healthcare market having the largest patient list in the wider local area.  

This acquisition will increase PHP's portfolio to a total of 306 assets with a gross value of in excess of £1.325 billion and a contracted rent roll of just over £72 million.  

Harry Hyman, Managing Director of Primary Health Properties, commented:

"Wincanton Medical Centre is a positive addition to the portfolio being located within a growing catchment area with ongoing nearby residential development in progress.  The unexpired term is accretive to the overall portfolio and the building represents a modern purpose built dedicated healthcare facility with the benefit of secure onsite car parking.  We have a strong pipeline of acquisitions in the UK and Ireland and are well positioned to continue growing the portfolio."

More information on Primary Health Properties PLC can be found on www.phpgroup.co.uk. 

Legal Entity Identifier: 213800Y5CJHXOATK7X11

Further details:

Harry Hyman Managing Director Tel: +44 (0) 20 7451 7050	Richard Howell Finance Director Tel: +44 (0) 20 7104 5599
David Rydell (Buchanan Communications) Tel: +44 (0) 20 7466 5066

This information is provided by RNS

The company news service from the London Stock Exchange

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