Primary Health Properties has added another two medical centres to its portfolio, boosting its annual rental income to £135.3m.
The firm now has 513 assets, with an average unexpired lease term of 12 years and occupancy rate of 99.5%.
Its latest acquisitions are a standing let investment in West Derby, Liverpool, and the forward funding of a purpose-built primary care centre in Enniscorthy, Co Wexford, Ireland.
PHP paid £4.6m for the West Derby medical centre and €12.6m (£11.5m) for the Enniscorthy primary care centre, where agreements for a 25-year lease with Ireland’s Health Service Executive have already been signed and further leases are expected to be agreed with TUSLA (Ireland’s Child and Family Agency) and a pharmacy prior to practical completion in Q1 2022.
Managing director Harry Hyman, said: “Both properties will support our strategy of investing in the health of our communities by providing modern facilities to deliver a wide-range of primary care services. 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.”
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