A wholly-owned Primary Health Properties subsidiary has agreed to acquire Stenhousemuir Medical Centre in Falkirk for £8.7m.
The Scottish acquisition will increase PHP’s portfolio to a total of 305 assets with a gross value of circa £1.32bn and a contracted rent roll of approximately £71.7m.
The property comprises 26,372 sq ft and is fully let to the Scottish government, with a patient list of more than 19,000.
Harry Hyman, managing director of Primary Health Properties, said: “Stenhousemuir Medical Centre provides a positive addition to the portfolio being the principal and largest primary care centre in the area with a substantial patient list.
“The building represents a modern and purpose built dedicated healthcare facility with the benefit of onsite expansion space. We have a strong pipeline of acquisitions in the UK and Ireland and remain well positioned to continue growing the portfolio.”
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