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Primary Health portfolio edges towards 500 with Bolton and Banagher additions

Assets now have a gross value of just under £2.4bn and a contracted rent roll of approximately £127mln. 

Primary Health Properties PLC -

Healthcare facilities investor Primary Health Properties PLC (LON:PHP) has added an existing site in Bolton and agreed to fund a purpose-built centre in Banagher in Ireland. 

PHP will pay a net £8mln for the Waters Meeting health centre, Bolton - a 2,295sq m site that is already fully let to NHS Property Services, two GP practices with a combined patient list of 13,500 and a pharmacy. 

Banagher, in County Offaly, will cost €5mln and be let to the Irish government's Health Service Executive and the Banagher Family GP Practice.

On completion, the FTSE 250 member’s portfolio will total 488 assets, of which 16 are in Ireland, with a gross value of just under £2.4bn and a contracted rent roll of approximately £127 million.  

Harry Hyman, PHP‘s managing director, said: "We are delighted to announce these transactions, which are part of a strong pipeline of projects which the group is pursuing at present in the UK and in Ireland, funded with the proceeds of our recent successful £100mln placing.”

Quick facts: Primary Health Properties PLC

Price: 153 GBX

LSE:PHP
Market: LSE
Market Cap: £1.86 billion
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