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Private sector provider in talks over £4.2m health centre

31 December 2007

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A subsidiary of Guildford-based private sector health provider Primary Health Properties (PHP) is negotiating to buy a new health centre in Manchester for £4.2m.

The building in the city’s Sale area will be let for occupation by a GP practice and a pharmacy, adding to the group’s portfolio of 75 other properties, which are mostly leased to GPs.

The company works to generate rental income and capital growth 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 and enhancing 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 development opportunities, entering into forward purchase agreements, and buying completed medical investments 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”.

The group is even involved in lease renewals, rent reviews and lease regearing to maximise investment returns for shareholders and tenants.

Copyright © PA Business 2007

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