The company also said it has continued to grow rental income from its existing portfolio, with 91 rent reviews resulting in an additional £0.5mln per year
12 May 2021 | 07:57am
StockMarketWire.com - Healthcare facility investor Primary Health Properties said is rate of acquisitions had slowed, owing to high asset prices and disruptions caused by the pandemic. The first quarter of 2021 has been characterised by a lack of suitable product, strong pricing and a very competitive market, the company said.
It said the conditions meant it had only acquired one standing investment, the Shankhill primary care centre in Ireland, for €3.8 million in March. Excluding direct developments, we have continued to generate and grow a strong off-market pipeline of potential acquisitions both in the UK and Ireland totalling approximately £230 million including £63 million in legal due diligence, it added.
Primary Health Properties (PHP) is the leading investor in modern healthcare properties in the UK & Ireland.
PHP is a UK based Real Estate Investment Trust (REIT) with a clear objective to create progressive returns to shareholders through a combination of earnings growth and capital appreciation.
PHP achieves this by investing in healthcare real estate in the UK and Ireland let on long term leases backed by a secure underlying covenant funded mostly by government bodies.
The Group s portfolio comprises over 300 primary healthcare facilities, both completed and committed, the majority of which are GP surgeries, with other properties let to NHS organisations, pharmacies and dentists.