# Primary Health Properties well positioned to continue to grow portfolio

- Link: https://www.directorstalkinterviews.com/primary-health-properties-well-positioned-to-continue-to-grow-portfolio/412801100
- Published: 2019-12-17T08:03:33+00:00
- Author: Amilia Stone

**Primary Health Properties** (LON:PHP), the UK’s leading investor in modern primary
healthcare facilities, has announced that it has acquired a standing let investment
property situated in Bolton and has also contracted with a developer to fund the
development and acquisition of a purpose-built primary care centre in Banagher, 
Co. Offaly, Ireland. 

A wholly owned subsidiary of PHP has acquired the Waters Meeting Health Centre, 
Bolton, a property comprising of 2,295m^(2) and which is fully let to NHS Property
Services, two GP Practices with a combined patient list of 13,500 and a Pharmacy.
The net consideration for the property will be £8.0 million.

Separately, Primary Health Properties ICAV, (“PHP ICAV”) has contracted to provide
development funding for the construction of the property in Banagher for a total
cost of €5.0 million which will be wholly owned by PHP ICAV upon its completion.
On practical completion the property will comprise an area of 1,700m^(2) and be 
let for an initial term of 30 years to the Irish government’s Health Service Executive
and the Banagher Family GP Practice.

This acquisition will increase PHP’s portfolio to a total of 488 assets, of which
16 are in Ireland, with a gross value of just under £2.4 billion and a contracted
rent roll of approximately £127 million.  

> **Harry Hyman, Managing Director of Primary Health Properties, commented:**
> “We are delighted to announce these transactions, which are part of a strong pipeline
> of projects which the Group is pursuing at present in the UK and in Ireland, funded
> with the proceeds of our recent successful £100 million placing. We 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.”

More information on Primary Health Properties can be found on [www.phpgroup.co.uk](http://www.phpgroup.co.uk/)

Share on: