Primary Healthcare Props to pay dividend in November on 'robust' rents

Primary Healthcare Properties said it planned to pay a dividend in November as it reported “robust” rent collections in the third quarter.

The healthcare property investor said it had collected 91% and 88% of rents in the UK and Ireland respectively at July 8 in the third quarter ahead of rates experienced in the previous three months which now stood at more than 99% for both countries.

The balance of rent due for the third quarter was expected to be received within the coming fortnight, PHP said on Thursday, adding that it had allowed £1.1m of quarterly rents, predominantly pharmacies, to be paid by monthly instalments, given short-term rent deferrals of £0.3m and concessions of £0.2m.

PHP managing director Harry Hyman said the company had seen strong demand for extra space to alleviate the backlog of consultations as a result of the coronavirus.

"Technology will continue to drive digital consulting and triage in the future and the crisis has highlighted the important role primary healthcare must play in the future provision of health services and continued re-focusing of services away from over-burdened hospital settings,” he said.

“PHP looks forward to contributing to this effort and remains very confident of its future outlook."