5th Sep 2018 08:43
LONDON (Alliance News) - Primary Health Properties PLC said Wednesday that the value of its Irish portfolio increased to EUR100.0 million after it acquired three further care centres in Ireland.
The healthcare facilities investor said that its investment vehicle, Primary Health Properties ICAV, acquired Jellia Holdings Ltd, the owner of three primary care centres in Dublin, Newbridge and Celbridge, for EUR38.6 million.
Managing Director Harry Hyman said: "We are delighted to acquire these assets which have significantly increased the size and value of our portfolio in Ireland, and where we anticipate continuing to expand, as our acquisition programme gathers momentum.
"We are committed to the Irish market where we see significant potential due to the need to modernise the primary care infrastructure and widen the provision of healthcare services."
All three of the properties are fully let, the company added, with government bodies accounting for 63% of the total rent roll and a lease term of 21 years.
After the acquisition, the company's total portfolio consists of 313 assets with a gross value of GBP1.4 billion ad a rent roll of GBP75 million.
Primary Health shares were trading down 0.2% at 113.13 pence each early Wednesday.
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