Primary Health Properties in Bolton buy – Primary Health Properties has acquired a standing let investment property situated in Bolton and has also contracted with a developer to fund the development and acquisition of a purpose-built primary care centre in Banagher, Co. Offaly, Ireland.
The Waters Meeting Health Centre, Bolton, is a property comprising of 2,295m(2) and which is fully let to NHS Property Services, two GP Practices with a combined patient list of 13,500 and a Pharmacy. The net consideration for the property will be GBP8.0 million.
Development funding for the construction of the property in Banagher will be for a total cost of EUR5.0 million. On practical completion the property will comprise an area of 1,700m(2) and be let for an initial term of 30 years to the Irish government’s Health Service Executive and the Banagher Family GP Practice.
This acquisition will increase PHP’s portfolio to a total of 488 assets, of which 16 are in Ireland, with a gross value of just under GBP2.4 billion and a contracted rent roll of approximately GBP127 million.
PHP : Primary Health Properties in Bolton buy