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Primary Health Properties PLC Development Completion

Primary Health Properties PLC (LON: PHP), one of the UK’s leading investors in modern primary healthcare facilities, announced today it has reached practical completion on two developments from separate developers at Glynneath and Langwith at a total cost of £6.4 million (£4.6 million and £1.8 million respectively).

The properties are let on 20 year leases to respectively the Abertawe Bro Morgannwg University Health Board and the Derbyshire Community Health Services NHS Foundation Trust whilst there is also a pharmacy unit at Glynneath. This represents a combined 87% government backed income across both properties.

PHP’s portfolio now consists of a total of 484 assets with a gross value of £2.35 billion with a contracted rent roll of just under £126 million.

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

“I am pleased to announce the completion of these two new medical centres which provide modern, purpose built facilities for the delivery of a range of primary healthcare needs for patients in Glynneath and Langwith and the immediate surrounding areas. We have a strong pipeline of opportunities in the UK and Ireland and are well positioned to continue to grow our portfolio and to support the healthcare systems in these markets through the provision of modern, primary care infrastructure.”