Primary Health Properties acquires Wincanton medical centre
Real estate investment trust Primary Health Properties (PHP) has completed the £4.37m acquisition of Wincanton Medical Centre in Somerset.
FTSE All-Share
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17:05 09/01/25
FTSE Small Cap
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16:49 09/01/25
Primary Health Properties
87.65p
16:45 09/01/25
Real Estate Investment Trusts
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16:44 09/01/25
Completed in 2011 with a 19.5-year unexpired certain term, the 983sq metre property had just two leaseholders, the partners of the medical centre itself and a pharmacy unit let to Boots UK.
The acquisition was set to increase PHP's portfolio to a total of 306 assets, giving the firm a gross value of more than £1.32bn and a contracted rent roll of just over £72m per year.
Harry Hyman, managing director of Primary Health Properties, said, "Wincanton Medical Centre is a positive addition to the portfolio being located within a growing catchment area with ongoing nearby residential development in progress."
"We have a strong pipeline of acquisitions in the UK and Ireland and are well positioned to continue growing the portfolio," he added.
As of 0835 GMT, shares had gained 0.66% to 114.25p.