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PHP acquires two new medical centres for £7.75m

8 January 2008

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A company that leases healthcare centres to GPs has bought two newly-built medical centres at Shavington and Northwich in Cheshire for £7.75m.

Primary Health Properties (PHP), which is based in Guildford, anticipates collecting rents of some £445,000 per annum.

The buildings are let for occupation by GP practices, a primary care trust and pharmacies.

A spokesman said the move adds to the group’s portfolio of 75 other sites, which are mostly leased to GPs.

The company works to generate capital growth, and rental income, through investment in primary health care property in the UK.

The properties it takes on are leased principally to GPs, NHS primary care trusts (PCTs), health authorities, and other associated healthcare users.

PHP says it is committed to expanding its portfolio of properties, and while it does not carry out development work, it works closely with specialist developers to create new investments.

This takes the form of sourcing new opportunities, entering into forward purchase agreements, and buying completed medical venues in the open market.

It also works with GPs and PCTs “to explore new and innovative ways to procure primary care development and estates expansion within the NHS”.

Primary Health Properties

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