Primary Health Properties buys medical centre for £7.25m

Primary Health Properties has bought the Strawberry Hill Medical Centre, Newbury for £7.25m, the company said on Monday.

The property is fully let to two GP practices, providing 100% government backed income, with an unexpired term of 19 years.

PHP added that the centre had “substantial” patient lists; and benefited from facilities for carrying out broader medical services such as minor operations and blood tests.

Following completion, PHP's portfolio will comprise 512 assets, of which 20 are in Ireland, with a contracted rent roll of £143m.