14th Jun 2018 10:49
LONDON (Alliance News) - Primary Health Properties PLC said Thursday that one of its wholly-owned subsidiaries bought the Moredon Medical Centre in Swindon, west of London.
The healthcare facilities investor said its subsidiary acquired GBP6.1 million in net assets from the centre's acquisition.
The property is 1,446 square metres medical centre which is fully let to the Moredon Medical Centre Partnership.
The company said it receives rent reimbursement through a long-term government-backed lease agreement.
A LloydsPharmacy Ltd unit is on the property with a of weighted average unexpired lease ter of approximately 27 years and a half.
"This acquisition will increase PHP's portfolio to a total of 309 assets with a gross value of circa GBP1.38 billion and a contracted rent roll of approximately GBP73.5 million," the company said.
Primary Health shares were down 0.1% at 113.80 pence on Thursday.
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