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Primary Health Properties PLC on Monday said it has bought the the Strawberry Hill Medical Centre, Newbury for £7.3 million.
The London-based healthcare facility investor said the property is fully let to two GP practices, providing 100% government-backed income, with an unexpired term of 19 years. The medical centre benefits from facilities which can carry out broader medical services, such as minor operations and blood tests, it noted.
Following completion, Primary Health's portfolio will comprise of 512 assets, of which 20 are in Ireland, with a contracted rent roll of £143 million.
Chief Executive Officer Harry Hyman said: ‘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.’
Shares in Primary Health were down 0.1% to 143.30 pence each in London on Monday morning.
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