Primary Health Properties has announced that it has contracted to fund and acquire a purpose built medical centre to be developed in Swindon Town centre. The net consideration for the property will be £10.0m. The property comprises of circa 2,500m2 to be fully let to NHS Property Services Limited for a 20 year term from completion and occupied by two GP practices serving over 20,000 patients. The construction work is expected to be completed by Q1 2017. The company says that the acquisition increases PHP’s portfolio to a total of 273 assets with a gross value of £1.1bn.
Primary Health Properties is a REIT. The objective of the Group is to generate increased rental income and capital growth through investment in primary health property in the UK leased principally to GPs, NHS organisations and other associated healthcare users.
Primary Health Properties to fund Swindon medical centre : PHP