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Primary Health Properties acquires West Derby Medical Centre for £4.6 million
StockMarketWire.com
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Primary Health Properties said it has acquired the West Derby Medical Centre for £4.6 million.
The property is leased to a substantial GP practice, with a patient list of over 13,000 patients and a pharmacy.
PHP has also contracted to provide development funding for the construction of the Enniscorthy Primary Care Centre in for a total cost of €12.6 million.
Agreements for lease have been entered into for an initial term of 25 years with the Health Service Executive and a local GP practice and further leases are anticipated to be agreed with Ireland's Child and Family Agency and a pharmacy, before completion of the building in 2022.
Primary Health said the transactions will increase its overall portfolio to a total of 513 assets, of which 18 are in Ireland.
Its portfolio has a contracted rent roll of approximately £135.3 million, weighted average unexpected lease term of over 12 years and an occupancy rate of 99.5%.
Harry Hyman, managing director of Primary Health Properties, said: We are delighted to announce these transactions, which includes one of a number of development projects the Group is pursuing at present.
'Both properties will support our strategy of investing in the health of our communities by providing modern facilities to deliver a wide-range of primary care services.'
At 2:22pm: (LON:PHP) Primary Health Properties PLC share price was 0p at 150p
Story provided by StockMarketWire.com
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