Healthcare property specialist Primary Health Properties (PHP) is to fund the development of a new £3m medical centre in Newton Abbot, Devon through a wholly-owned subsidiary.
The property will be let to a practice of six GPs on a 25-year lease, and is slated for completion in 2013.
Harry Hyman’s PHP had assets of £552.5m under management as of the end of June 2012, and raised £75m in a retail bond debut in July this year.
sophia.furber@estatesgazette.com
