(Alliance News) - Primary Health Properties PLC on Friday said it has acquired a care property in Lancashire, North West England, lifting its rent roll to roughly GBP140 million.
The Townside Primary Care Centre and a nearby office building, were acquired for GBP40 million in total.
The care building is let to a pharmacy and NHS Property Services, which looks after the UK national health service's estate.
"The office accommodation is also fully let with 90% of the income secured against Bury Council," Primary Health added.
The acquisition increases company's portfolio to 515 assets, with a rent roll of over GBP138 million. Primary Health's net rental income in 2020 amounted to GBP131.2 million.
Managing Director Harry Hyman said: "We are delighted to be making this substantial acquisition of a modern, purpose-built hub facility in Bury. The primary care centre is a key component in the delivery of primary care in the area and serves approximately 22,300 patients, with a total of 17 general practitioners located at the 3 GP practices located in the facility.
"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."
By Eric Cunha; ericcunha@alliancenews.com
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Primary Health (PHP)