1st Oct 2026 07:45
(Alliance News) - Primary Health Properties PLC said on Thursday rental growth was marginally ahead of its expectations for the first nine months of 2026, and indicated it had made progress on its joint venture transactions.
The London-based healthcare facility investor reported that it continued to see an improving rental growth outlook, especially from rent reviews, with an extra GBP5.8 million of income generated in the first nine months of 2026.
This represents a total increase of 6.1% over the previous rent of GBP96 million, equivalent to 3.1% on an annualised basis, slightly higher than target of over 3%.
"We continue to deliver rental growth slightly ahead of our guidance and are encouraged by recent investment transactions in our sector at supportive valuations," PHP Chief Executive Officer Mark Davies said.
PHP said it had made further progress on its joint ventures since the release of interim financial results in late July.
The transactions remain on track, with financial terms agreed and due diligence complete, the company said.
Proceeds from the sale of assets into joint ventures will be used to pay down debt, it said.
PHP also said it had completed the integration of Assura PLC and expects to deliver its financial synergies ahead of plan. The healthcare facility investor completed its acquisition of Assura in October last year.
By Artwell Dlamini, Alliance News senior reporter South Africa
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