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Iain Gilbert Sharecast News
14 Apr, 2022 08:05

Primary Health Properties acquires Chiswick Medical Centre

dl primary health properties props php healthcare facilities medical property investment logo ftse 250
Primary Health PropertiesSharecast graphic / Josh White

Primary Health Properties

94.10p

15:44 22/11/24
1.18%
1.10p

Property investor Primary Health Properties has acquired London's Chiswick Medical Centre for a total consideration of £34.5m.

FTSE 250

20,584.46

15:45 22/11/24
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FTSE 350

4,551.10

15:45 22/11/24
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FTSE All-Share

4,506.61

15:45 22/11/24
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Real Estate Investment Trusts

2,136.31

15:44 22/11/24
2.10%
43.85

Primary Health said on Thursday that the property was fully let to HCA International, with an unexpired term of just under 20 years and five-yearly annually compounded RPI-led rent reviews.

The FTSE 250-listed firm added that the acquisition will increase its portfolio to a total of 524 assets, 20 of which were in Ireland, with a contracted rent roll of just under £143.0m.

Chief executive Harry Hyman said: "We are delighted to have acquired this state-of-the-art diagnostic centre in London, let to an excellent covenant which provides a wide range of services which alongside the NHS is assisting with tackling the significant backlog of referrals following Covid-19.

"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."

As of 0805 BST, Primary Health shares were up 0.13% at 149.90p.

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