Primary Health Properties (PHP) has acquired a purpose-built medical centre in Cardiff for £4.5m.
The specialist healthcare REIT said its acquisition of the Sarak Group Limited, whose sole asset is the Crwys Medical Centre in Cathays, would further increase its footprint, taking its portfolio to 516 assets with a contracted rent roll of over £138m.
Around £1m of the purchase price will be funded via the issue to two of the sellers of 595,167 new ordinary shares of 12.5 pence each.
The property is fully let to a large local GP practice serving over 8,000 patients as well as a pharmacy.
Last month, PHP acquired the Townside Primary Care Centre and adjacent office building in Bury, Lancashire for £40m.
PHP CEO Harry Hyman said: ‘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.’
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