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Primary Health Properties PLC completes two deals

The healthcare facilities have been let on 20 year leases

Primary Health Properties PLC -
The company now owns 484 “assets” worth £2.35bn and generating a rents of just under £126mln

Primary Health Properties PLC (LON:PHP) has completed on developments in Wales and the Midlands for a combined cost of £6.4mln.

They are Glynneath and Langwith, which have been let on 20-year leases to Abertawe Bro Morgannwg University Health Board and the Derbyshire Community Health Services NHS Foundation Trust respectively.

PHP said the government-backed income from the properties is 87%.  

“We have a strong pipeline of opportunities in the UK and Ireland and are well positioned to continue to grow our portfolio and to support the healthcare systems in these markets through the provision of modern, primary care infrastructure," said managing director Harry Hyman.

The company now owns 484 “assets” worth £2.35bn and generating rents of just under £126mln.

Quick facts: Primary Health Properties PLC

Price: 153.2 GBX

LSE:PHP
Market: LSE
Market Cap: £1.86 billion
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Primary Health Properties to 'continue generating strong returns'

Capital Network analyst Ed Stacey reckons the conditions remain in place for Primary Health Properties PLC (LON:PHP) to continue generating strong returns in the next few years and to continue its unbroken run of dividend increases. PHP is a real estate investment trust (REIT) that...

on 06/11/2019

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