Primary Health Properties sells off smaller assets

Major Well being Properties (PHP), an actual property funding belief which invests in fashionable main healthcare, has offered a portfolio of 13 smaller medical centres situated throughout England and Wales, for £27.7 million.

The sale worth is 13% above PHP’s 31 December 2021 e book worth, representing round 60 foundation factors of yield compression.

Following the sale, PHP’s portfolio will comprise 511 property, of which 20 are in Eire, with a contracted hire roll of slightly below over £1,423 million.

PHP chief govt Harry Hyman stated: “We’re delighted to have been capable of obtain such a robust worth for this portfolio of medical centres, which includes smaller services considerably under our common lot dimension. The disposal will enable us to deploy the proceeds into our sturdy pipeline throughout the UK and Eire which we imagine will ship stronger returns.”

Date Printed: July 7, 2022