(Alliance News) - Primary Health Properties PLC on Tuesday announced the purchase of a medical centre in Lincolnshire for GBP6.8 million.
The Parkside Medical Centre in Boston, Lincolnshire is currently fully let to a GP medical practice and pharmacy, Primary Heath explained.
The London-based investor in healthcare facilities said the property's two leases have a weighted average unexpired lease term of 13.5 years and provide a "substantial proportion of government backed income".
"We are delighted to be making this acquisition of a modern, purpose-built facility in Boston," said Primary Health Chief Executive Harry Hyman.
"We have a strong pipeline of opportunities in the UK and Ireland and are well positioned to continue to grow our portfolio and to support the healthcare systems in these markets through the provision of modern, primary care infrastructure."
The purchase will increase PHP's portfolio to a total of 520 assets, with a contracted rent roll of over GBP139 million.
FTSE 250-listed Primary Health shares were trading 0.4% higher in London on Wednesday morning at 149.70 pence each.
By Will Paige; willpaige@alliancenews.com
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