Primary Health Properties PLC Acquisition (8927K)
07 Septiembre 2021 - 1:00AM
UK Regulatory
TIDMPHP
RNS Number : 8927K
Primary Health Properties PLC
07 September 2021
Primary Health Properties PLC
Acquisition
Primary Health Properties PLC ("PHP" or the "Group"), one of the
UK's leading investors in modern primary healthcare facilities,
announces that it has acquired the entire issued share capital of
Sarak Group Limited, whose sole asset is the Crwys Medical Centre
in Cathays, Cardiff, for a total consideration of GBP4.5 million.
Of the total consideration, approximately GBP1 million will be
satisfied by the issue at completion to two of the sellers of
595,167 new ordinary shares of 12.5 pence each in the capital of
PHP and the balance in cash.
The Crwys Medical Centre is a modern, purpose-built primary care
centre, comprising 9,384ft(2) of lettable space, over three floors.
The property is fully let to a large local GP practice serving over
8,000 patients and to a pharmacy. The two leases, with a weighted
average unexpired lease term ("WAULT") of 13 years, are accretive
to the portfolio WAULT and providing for circa 80% government
backed income.
This acquisition will increase PHP's portfolio to a total of 516
assets, of which 19 are in Ireland, with a contracted rent roll of
over GBP138 million.
Harry Hyman, CEO of Primary Health Properties, commented:
"We are delighted to have acquired this modern purpose-built
primary care centre, further increasing the Group's footprint. The
medical centre plays an important role in the provision of primary
care in the local health economy being one of the only modern
purpose-built buildings in the immediate area.
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 healthcare systems in these markets through the
provision of modern, primary care infrastructure."
More information on Primary Health Properties PLC can be found
on www.phpgroup.co.uk
Further details:
Harry Hyman Richard Howell
Chief Executive Officer Chief Financial Officer
Tel: +44 (0) 20 7451 7050 Tel: +44 (0) 20 7104
5599
David Rydell / Steph Wh itmore /
Tilly Abraham
(Buchanan Communications)
Tel: +44 (0) 20 7466 5066
Legal Entity Identifier: 213800Y5CJHXOATK7X11
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END
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September 07, 2021 02:00 ET (06:00 GMT)
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