LONDON (Alliance News) - Primary Health Properties PLC on Monday said it has bought two healthcare facilities for GBP7.2 million, both of which are located close to Aberdeen.
The healthcare facility investor acquired Carden Medical Investments Ltd, which owns the Cove Bay Medical Centre and Pitmedden Medical Centre, to increase its portfolio to a total of 298 assets. The gross value of its portfolio now stands at more than GBP1.20 billion.
Primary Health Properties said Cove Bay is fully let to a GP practice and the Scottish Ministers on leases which each have an unexpired term of 15.3 years. The Pitmedden Medical Centre is fully let to doctors surgery Haddo Medical Group on a lease with an expired term of 13 years.
"This acquisition adds to our portfolio of high quality, purpose built primary care facilities across the UK and enhances our sustainable, long term income," said Managing Director Harry Hyman.
"We have a strong pipeline and are well positioned to continue to grow our portfolio and support the UK's healthcare system with the provision of modern, primary care infrastructure," Hyman added.
Shares in Primary Health were down 0.1% at 107.85 pence Monday morning, shortly after the market open.
By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland
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Primary Health (PHP)