21st Oct 2021 10:37
(Alliance News) - Primary Health Properties PLC on Thursday said it has agreed to acquire the Clonbrusk primary care centre in Ireland for EUR10.1 million.
The London-based investor in healthcare facilities said the property is a purpose-built primary care centre which was developed in 2013 and is 100% let to the Health Service Executive, Ireland's equivalent to the UK's NHS.
It has an unexpired lease term of 17.5 years, which is accretive to the portfolio weighted average unexpired lease term.
This acquisition - which is expected to complete on Friday - will increase Primary Health Properties' portfolio to a total of 517 assets, it said, of which 20 are in Ireland. The company noted that its portfolio now has a contracted rent roll of almost GBP139 million.
"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 development of a modern healthcare infrastructure in these markets," said Chief Executive Harry Hyman.
FTSE 250-listed Primary Health Properties shares were trading 0.7% higher in London on Thursday morning at 155.68 pence each.
By Evelina Grecenko; [email protected]
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