Primary Health Properties PLC Republic of Ireland Acquisition (1809G)
July 22 2019 - 1:00AM
UK Regulatory
TIDMPHP
RNS Number : 1809G
Primary Health Properties PLC
22 July 2019
22(nd) July 2019
Primary Health Properties PLC
Republic of Ireland Acquisition
Further to its announcement on 12(th) March 2019, Primary Health
Properties PLC ("PHP"), one of the UK's leading investors in modern
primary healthcare facilities, announces that it has completed the
acquisition of The Meath Primary Healthcare Centre, Dublin 8
("Meath PCC"), a standing let primary care centre in the Republic
of Ireland.
Primary Health Properties ICAV, an Irish investment vehicle
wholly owned by PHP, has acquired the Meath PCC for a total cost of
EUR10.987 million.
This acquisition is PHP's fifteenth asset in Ireland (including
built and committed assets) and increases PHP's total portfolio to
484 properties, with a gross value of over GBP2.3 billion and a
contracted rent roll in excess of GBP125 million. The gross value
of the Irish portfolio is expected to be approximately EUR200
million when current contracted and onsite developments reach
practical completion.
Harry Hyman, Managing Director of PHP, commented:
"The completion of the acquisition of Meath PCC marks an
important addition to PHP's Irish portfolio. The property is fully
let with the majority of the rental income secured by government
backing with a long unexpired term, further enhancing our
sustainable, long term income. We are delighted to make continued
progress in building our portfolio in the Republic of Ireland, a
market where we see significant potential due to the need to
modernise the primary care infrastructure and widen the provision
of healthcare services. We have a strong pipeline of acquisitions
in the UK and Ireland and are well positioned to continue growing
the portfolio in both jurisdictions."
More information on Primary Health Properties PLC can be found
on www.phpgroup.co.uk
Further details:
Harry Hyman
Managing Director
Tel: +44 (0) 20 7451 7050
Richard Howell
Finance Director
Tel: +44 (0) 20 7104 5599
David Rydell / Steph Watson (Buchanan
Communications)
Tel: +44 (0) 20 7466 5066
Legal Entity Identifier: 213800Y5CJHXOATK7X11
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END
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