LONDON (ShareCast) - (Sharecast News) - Healthcare facilities investor Primary Health Properties has contracted with a developer to fund the fitting out of a doctors' surgery in the centre of Epsom, Surrey.
PHP said on Thursday that it will acquire the long leasehold interest of the property on completion of the work for ?4.1m.

The property will be let to the Ashley Surgery for an initial term of 20 years from practical completion and will be accretive to the overall weighted average unexpired lease term of the group's portfolio.

The FTSE 250 firm said the acquisition would increase its portfolio to a total of 490 assets with a gross value of just over ?2.4bn and a contracted rent roll of just over ?128m.

Managing director Harry Hyman said: "The transaction continues the improvement of the quality of our portfolio by delivering a new facility with a long unexpired lease term and located in a prime location in the commuter town of Epsom.

"We continue to have a strong pipeline of opportunities in the UK and Ireland and are well-positioned to continue to grow our portfolio."

As of 0940 GMT, PHP shares were down 4.67% at 147p.

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