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Primary Health Properties makes Gloucester acquisition

31 May 2017 08:49

Primary Health Properties has contracted to fund the development of a purpose-built primary care centre in Churchdown, Gloucestershire.

A subsidiary of PHP had contracted to provide development funding for the construction of the property for a total cost of £5.0m (net assets acquired of £5.0m), which would be wholly owned by PHP upon its completion.

The property would comprise an area of 1,184 sq m to be fully let for 20 years from completion to a GP surgery with a patient list of more than 13,500, in addition to a pharmacy.

This acquisition would increase PHP's portfolio to a total of 300 assets with a gross value of about £1.25bn and a contracted rent roll of just over £70m.

At 8:49am: (LON:PHP) Primary Health Properties Plc share price was +0.38p at 112.63p

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