7th Jul 2022 10:59
(Alliance News) - Primary Health Properties PLC on Thursday said it has sold 13 "smaller" medical centres located across England and Wales for GBP27.7 million.
The sale price is 13% above the company's December 31 book value, the London-based healthcare facility investor said.
Following completion of the sale, which is expected to take place this month, Primary Health's portfolio will comprise 511 assets, of which 20 are in Ireland, with a contracted rent roll of just under GBP143 million.
Chief Executive Harry Hyman said: "We are delighted to have been able to achieve such a strong price for this portfolio of medical centres, which comprises smaller facilities significantly below our average lot size. The disposal will allow us to deploy the proceeds into our strong pipeline across the UK and Ireland which we believe will deliver stronger returns."
Shares in Primary Health were up 0.9% to 137.40 pence each in London on Thursday morning.
By Sophie Rose; [email protected]
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