2nd Jul 2020 10:18
(Alliance News) - Primary Health Properties PLC on Thursday said it has completed the acquisition of a portfolio of medical centres
The primary healthcare facilities investor said it has finalised the last of the conditional purchases of the portfolio comprising 20 medical centres for the price GBP47.1 million before transaction costs, and two additional centres for GBP6.9 million.
In May, when the acquisitions were announced, Primary Health said the properties - located across England and Wales - are leased to GP practices, other NHS healthcare operators, and pharmacies. It added that around 91% of rental income is being backed by the UK government with all of the leases set to be reviewed every three years.
This acquisitions take the company's UK and Ireland assets to 510, worth a total of around GBP2.5 billion and with a contracted rent roll of GBP131 million.
The stock was trading 0.5% higher at 155.12 pence each on Thursday morning in London but 2.2% lower than at the start of the year.
By Ife Taiwo; [email protected].
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