LONDON (Alliance News) - Property investors Primary Health Properties PLC and Real Estate Investors PLC Monday said they have added to their portfolios in the UK.
Primary Health Properties PLC said it will develop and acquire a new modern, purpose-built medical centre to be constructed in Flintshire, North Wales. The company did not name the sellers but said the completed property will cost GBP3.5 million.
The centre is expected to be completed by the end of 2015 and will be let to the Local Health Board and a four partner GP practice both on 20 year lease terms.
West-Midlands based Real Estate Investors said it has agreed to acquire Westgate House, in Warwick town centre, for GBP7.3 million in cash from an unnamed vendor.
The property produces a rent of GBP631,325 a year, and tenants include Boots UK Ltd and Marks and Spencer Simply Foods Ltd.
Primary Health Properties shares were quoted down 0.1% at 345.71 pence Monday morning, while Real Estate Investors shares were quoted flat at 53.50 pence.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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Primary Health (PHP)
REI (RLE)