Further to its announcement in March 2019, Primary Health Properties PLC (PHP), one of the United Kingdom’s leading investors in modern primary health care facilities, announced that it has completed the acquisition of The Meath Primary Healthcare Centre, Dublin 8 (Meath PCC), a standing let primary care center in the Republic of Ireland. Primary Health Properties ICAV, an Irish investment vehicle wholly owned by PHP, has acquired the Meath PCC for a total cost of €10.987 million.
This acquisition is PHP’s fifteenth asset in Ireland, including built and committed assets, and increases PHP’s total portfolio to 484 properties, with a gross value of over £2.3 billion and a contracted rent roll in excess of £125 million. The gross value of the Irish portfolio is expected to be approximately €200 million when current contracted and onsite developments reach practical completion.
According to Harry Hyman, managing director of PHP, the acquisition of Meath PCC is incredibly important to PHP’s portfolio. Mr. Hyman stated the acquisition allows PHP to further increase the primary care market within the Republic of Ireland, where there is a significant need for increased modernized health care services.
Primary Health Properties is the leading investor in modern health care properties in the United Kingdom and Ireland. Primary Health Properties is a United Kingdom-based Real Estate Investment Trust with a clear objective to create progressive returns to shareholders through a combination of earnings growth and capital appreciation. Primary Health Properties achieves this by investing in health care real estate in the United Kingdom and Ireland let on long term leases backed by a secure underlying covenant funded mostly by government bodies. Their portfolio comprises over 300 primary health care facilities, both completed and committed.
This was reported by Primary Health Properties on July 22, 2019.
Contact information: Harry Hyman, Managing Director, Primary Health Properties, Greener House, 66–68 Haymarket, Fifth Floor, London SW1Y 4RF; 44 0207-104-5599 ; Website: www.phpgroup.co.uk