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A leading UK company, Primary Health Properties (PHP), has reached an agreement with a developer to fund the acquisition and construction of a purpose-built primary care centre in Enniscorthy.
The new centre will be located at Quarrypark and the cost of project is estimated to be in the region of €12.6m.
Agreements for the lease of the centre have been entered into for an initial term of 25 years and include the HSE and local GP, Dr Mairead Kelly.
Expressing delight at the news, Dr Kelly said the new facility will offer state-of-the-art medical services for people and will be a very welcome addition to medical care in the county.
Neil Tague
Primary Health Properties has acquired the 2016-built West Derby Medical Centre for £4.6m.
The facility is leased to a GP practice with a patient list of more than 13,000 patients, along with a pharmacy.
London-registered PHP is one of the key players in the healthcare development and investment market, with a portfolio of around 500 UK properties, most of them GP surgeries, with other properties let to NHS organisations, pharmacies and dentists.
The PHP portfolio has a contracted rent roll of approximately £135.3m,average unexpired lease terms of more than 12 years and an occupancy rate of 99.5%.
Perhaps unsurprisingly in a year that has seen such focus on healthcare and wellbeing, the healthcare development sector has been busy throughout 2020.
Primary Health Properties (PHP) has reached an agreement with a developer to fund the acquisition and development of a purpose-built primary care centre in Enniscorthy, county Wexford.
The UK company has agreed a contract of €12.6m to fund the construction of the Enniscorthy primary care centre.
Agreements for the lease of the centre have been entered into for an initial term of 25 years with the HSE and a local GP practice.
Further leases are expected to be agreed with Tusla and a pharmacy, prior to practical completion of the building anticipated in early 2022, according to a statement from PHP.
Also today, PHP has acquired a standing let investment in Liverpool for £4.6m. The property is leased to a GP practice, with a patient list of over 13,000 patients, as well as a pharmacy.
Mon, 21st Dec 2020 10:57
(Alliance News) - Primary Health Properties PLC on Monday said it has acquired the West Derby Medical Centre for GBP4.6 million and contracted a developer to fund the development and purchase of a primary care centre in Enniscorthy, County Wexford, Ireland.
The primary health facilities investor stated the West Derby Medical Centre is leased to a GP practice with a patient list of over 13,000 patients and a pharmacy.
It added it has also contracted to provide development funding for the construction of the Enniscorthy Primary Care Centre for EUR12.6 million. Lease agreements have been entered into for a 15-year term with the Health Service Executive and a local GP practice. Further leases are expected to be agreed with Ireland s Child & Family Agency TUSLA and a pharmacy, before completion of the building in the first quarter of 2022.