Primary Health Properties PLC

M&A Activity • Oct 9, 2017

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RNS Number : 9924S

Primary Health Properties PLC

09 October 2017

9 October 2017

Primary Health Properties PLC

Acquisition

Primary Health Properties PLC ("PHP" or the "Company"), the UK's leading investor in modern primary healthcare facilities, announces that it has contracted to acquire a standing let investment property situated in Stenhousemuir, Falkirk, Scotland.

A wholly owned subsidiary of PHP has agreed to acquire Stenhousemuir Medical Centre for £8.65 million (net assets acquired of £8.65 million). 

The property comprises of 2,450 m2 and is fully let to The Scottish Minister with a patient list of over 19,000 people, substantially the largest in the local area.

This acquisition will increase PHP's portfolio to a total of 305 assets with a gross value of circa £1.32 billion and a contracted rent roll of approximately £71.7 million.  

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

"Stenhousemuir Medical Centre provides a positive addition to the portfolio being the principal and largest primary care centre in the area with a substantial patient list.  The building represents a modern and purpose built dedicated healthcare facility with the benefit of onsite expansion space.  We have a strong pipeline of acquisitions in the UK and Ireland and remain 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

This information is provided by RNS

The company news service from the London Stock Exchange

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