- Primary Health Properties to acquire Irish outpatient care centre for EUR10.1mln
- Primary Health upgraded after encouraging numbers
Quick facts: Primary Health Properties PLC
Primary Health Properties (PHP) is the leading investor in modern healthcare properties in the UK & Ireland.
PHP is a UK based Real Estate Investment Trust (REIT) with a clear objective to create progressive returns to shareholders through a combination of earnings growth and capital appreciation.
PHP achieves this by investing in healthcare real estate in the UK and Ireland let on long term leases backed by a secure underlying covenant funded mostly by government bodies.
The Group’s portfolio comprises over 300 primary healthcare facilities, both completed and committed, the majority of which are GP surgeries, with other properties let to NHS organisations, pharmacies and dentists.
21 Oct 2021
() has struck a EUR10.1mln deal to acquire the Clonbrusk Primary Care Centre, in Athlone, Republic of Ireland.
The deal sees the healthcare-focused property investor acquire a modern, purpose-built primary care centre that has let to Ireland’s public healthcare provider, the Health Service Executive (HSE).
It is expected to complete by the end of this week and brings the group’s portfolio to 517 property assets, of which 20 will now be in Ireland. Altogether, the portfolio will now have contracted rent of close to GBP139mln.
“We are delighted to have acquired this large primary care centre of approximately 44,000 sq ft, further increasing the group’s footprint in Ireland in line with our stated strategy,” said Primary Health Properties chief executive Harry Hyman.
17 Sep 2021
The investors in primary healthcare facilities said the new fund is designed to support health and well-being initiatives in the communities served by its medical centres.
07 Sep 2021
Of this, approximately GBP1 mln will be satisfied by the issue at completion to two of the sellers of 595,167 new ordinary shares of 12.5p each in the capital of PHP and the balance in cash.
05 Aug 2021
The broker has upgraded its forecasts following the results with the share price target also increased to 170p.
In addition, a number of recent strategic initiatives implemented by the company create an easier path to find a successor to chief executive Harry Hyman.
09 Aug 2021
Primary Health Properties’ share price is trading at new all-time highs following strong interim results that were reported on 28 July. The company reported 4.5% growth in net rental income year-on-year, and 5.1% growth in the dividend. PHP remains on track for 6.2p of dividends for the full year 2021, which will represent 25 years of consecutive dividend increases. We present our latest financial forecasts for PHP in detail on p2-4.
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