PHP acquires Surrey property with 20-year NHS lease

London-based main well being amenities investor Major Well being Properties (PHP) has acquired a scientific facility in Chertsey, Surrey for £6.95 million.

The Surrey and Borders Partnership NHS Basis Belief has a brand new 20-year FRI lease on the property, which advantages from RPI-led hire opinions. The belief can be offering drug and alcohol rehabilitation companies from the constructing along with office-based administrative capabilities.

Constructed within the late 1990’s, the ability has undergone a complete refurbishment, which will even improve the constructing’s environmental credentials, to supply scientific lodging on the bottom flooring and workplace area on the higher flooring.

This acquisition contributes to the general portfolio WAULT.

With this transaction, PHP’s portfolio to a complete of 522 property, of which 20 are in Eire, with a contracted hire roll of £141 million.

Harry Hyman, PHP’s chief government, stated: “We’re delighted to be making this acquisition of a healthcare asset that homes companies being relocated from the close by St Peter’s Hospital in step with the NHS’s technique of shifting ancillary companies away from hospital settings.

“We have now a powerful pipeline of alternatives within the UK and Eire and are well-positioned to proceed to develop our portfolio and to help the healthcare methods in these markets via the availability of recent, main care infrastructure.”

Following the announcement, PHP’s shares rose 0.7%, sitting at 149p on the time of writing.

Date revealed: April 1, 2022