Primary Health Properties has bought the Chiswick Medical Centre, W4, for £34.5m.
The deal takes PHP’s portfolio to a total of 524 assets, of which 20 are in Ireland, with a contracted rent roll of just under £143m.
Chiswick Medical Centre is fully let to HCA International with an unexpired term of just under 20 years. Under the terms of the lease, the rent will increase every five years in line with compounded RPI inflation.
The property recently underwent a comprehensive tenant-led fit-out to create a bespoke diagnostic and private healthcare facility, which claims to be among the best medical technology available in London. Its services range from neurology to urology alongside a dedicated children’s unit.
PHP chief executive Harry Hyman, said: “We are delighted to have acquired this state-of-the-art diagnostic centre in London, let to an excellent covenant which provides a wide range of services which, alongside the NHS, is assisting with tackling the significant backlog of referrals following Covid-19.”
Hyman added that more deals were in hand. “We have a strong pipeline of opportunities in the UK and Ireland and are well positioned to continue to grow our portfolio,” he said.
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