Primary Health Properties in €11.4m Ireland care centre deal
By Frank Prenesti
Date: Tuesday 19 Feb 2019
(Sharecast News) - Primary Health Properties said it would fund and buy a purpose built primary care centre in the Republic of Ireland for €11.4m.
The centre in Athy, County Kildare will comprise 3,975 square metres of lettable space and approximately 80% of the rent roll will be contracted to the Health Service Executive and the Irish government's child and family agency TUSLA on 30 year leases.
The remainder of the premises will be pre-let to a GP practice, pharmacy, and retail operator. Construction work is expected to be completed in early 2020.
This acquisition, PHP's ninth in Ireland, increases PHP's portfolio to a total of 316 assets, with a gross value of over £1.5bn and a contracted rent roll of just under £80m. The gross value of the Irish portfolio is now approaching €120m of committed capital, the company said
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