Primary Health Properties buys major Scotland facility for £8.7m
Primary Health Properties
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16:45 28/03/24
Primary healthcare facilities investor Primary Health Properties announced on Monday that it has contracted to acquire a standing let investment property situated in Stenhousemuir, Falkirk, Scotland.
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The FTSE SmallCap firm said a wholly owned subsidiary agreed to acquire Stenhousemuir Medical Centre for £8.65m.
It said the property comprised 2,450 square metres, and was fully let to the Scottish Minister with a patient list of more 19,000 people - substantially the largest in the local area.
This acquisition would increase PHP's portfolio to a total of 305 assets with a gross value of around £1.32bn, and a contracted rent roll of approximately £71.7m.
“Stenhousemuir Medical Centre provides a positive addition to the portfolio being the principal and largest primary care centre in the area with a substantial patient list,” said Primary Health Properties managing director Harry Hyman.
“The building represents a modern and purpose built dedicated healthcare facility with the benefit of onsite expansion space.
“We have a strong pipeline of acquisitions in the UK and Ireland and remain well positioned to continue growing the portfolio.”