Primary Health Properties invests in Wincanton – Primary Health Properties has acquired a modern, well let, purpose built healthcare facility for a total consideration of GBP4.37 million (net assets of GBP4.37 million). PHP has acquired the entire issued share capital of Wincanton Healthcare Limited, a company whose assets and activity is the ownership of Wincanton Medical Centre, Dykes Way, New Barns, Wincanton, Somerset BA9 9FQ.
Wincanton Medical Centre was completed in 2011, comprises of 983 m(2) and is fully let to the partners of the medical centre and a pharmacy unit let to Boots UK Limited with an unexpired term certain of approximately 19.5 years. The unexpired term is accretive to the overall portfolio WAULT and the practice is well positioned within the context of the local healthcare market having the largest patient list in the wider local area.
This acquisition will increase PHP’s portfolio to a total of 306 assets with a gross value of in excess of GBP1.325 billion and a contracted rent roll of just over GBP72 million.
Harry Hyman, Managing Director of Primary Health Properties, commented: “Wincanton Medical Centre is a positive addition to the portfolio being located within a growing catchment area with ongoing nearby residential development in progress. The unexpired term is accretive to the overall portfolio and the building represents a modern purpose built dedicated healthcare facility with the benefit of secure onsite car parking. We have a strong pipeline of acquisitions in the UK and Ireland and are well positioned to continue growing the portfolio.”
PHP : Primary Health Properties invests in Wincanton