LONDON (Alliance News) - Primary Health Properties PLC on Thursday said it has signed a contract to acquire and fund the development of two purpose-built medical centres in Wales and an existing facility in Wiltshire.
The company will pay a total of GBP15.8 million for the three deals, covering two new purpose-built centres in near Cariff and Colwyn Bay and the Wiltshire property.
It expects the two Welsh centres to be completed in the next 12 months and to be let for average term of 20 years. The existing facility in Wiltshire has an average remaining lease term of 27 years.
"These acquisitions demonstrate how we continue to grow our portfolio and to deliver shareholder value by acquiring high quality, modern and earnings enhancing healthcare centres," said Managing Director Harry Hyman.
Shares in Primary Health Properties were down 0.6% to 380.44 pence on Thursday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Primary Health (PHP)