Primary Health Properties has bought two healthcare facilities for £8.7m.
PHP has acquired the entire share capital of a company whose sole asset and activity is the ownership of a medical centre in Thornaby, North Yorkshire.
The property is occupied by two GP practices, a pharmacy, optician and the NHS on leases that each have an unexpired term of 13.5 years. The company has been acquired with an existing £2.6m bank loan at a rate of 1% above LIBOR.
In Liverpool, a wholly owned subsidiary of PHP has agreed to acquire the Jubilee Medical Centre in Croxteth.
The centre is currently being extended and refurbished and will be acquired on completion with the benefit of new 25 year lease to the incumbent GP partnership. The construction work is expected to be completed by Q4 2015.
