Primary Health Properties

Primary Health Properties plc is a British-based real estate investment trust, specialising in the rental of flexible and modern primary healthcare facilities within the United Kingdom and Ireland. The company is listed on the London Stock Exchange and is also a constituent of the FTSE 250 Index

Primary Health Properties plc
TypePublic real estate investment trust
IndustryInvestment trust
Founded1995
FounderHarry Hyman
Headquarters
London
,
United Kingdom
Key people
Steven Owen (Chairman)
Harry Hyman (CEO)
RevenueIncrease £154.1 million (2022)[1]
Decrease £70.4 million (2022)[1]
Decrease £56.3 million (2022)[1]
Websitewww.phpgroup.co.uk

History

The company was incorporated in 1995, floated on the Alternative Investment Market in 1996, and listed on the London Stock Exchange in November 1998. The firm switched to Real Estate Investment Trust status when REITs were introduced in the United Kingdom in January 2007.[2]

In September 2018 it bought an accommodation block next to Wansbeck General Hospital in September 2018,[3] and also acquired Jellia Holdings, the owner of three purpose-built primary care centres in Navan Road, Dublin, Newbridge, County Kildare and Celbridge.[4]

In June 2019 PHP completed a £1 billion merger with Medicx Fund, creating the UK’s largest UK healthcare property investor, with a combined portfolio of almost 500 properties.[5][6]

In 2020 it raised £140 million through a placing of 96.6 million shares to fund future acquisitions.[7]

In 2022 it bought Chiswick Medical Centre, which is let to HCA International Ltd, in London for £34.5 million.[8]

Property portfolio

Approximately 90% of the rent roll was paid for by the NHS in 2017. 9% is due from pharmacies.[9] The company had a portfolio of 513 properties worth £2.8 billion as at 31 December 2022.[1]

Notes
  1. "Annual Results 2022" (PDF). Primary Health Properties. Archived from the original (PDF) on 2023-02-22. Retrieved 22 February 2023.
  2. Chester, GA (2010-09-24). "A Guide To REITs". The Motley Fool. Retrieved 2010-09-25.
  3. "Investor buys Wansbeck General Hospital building". Insider Media. 19 September 2018. Retrieved 14 October 2018.
  4. "Primary Health Properties buys three more centres". Irish Times. 5 September 2018. Retrieved 14 October 2018.
  5. McCarthy, Sebastian (24 January 2019). "Real estate merger to form biggest ever UK healthcare property investor". City AM.
  6. "Primary Health Properties bulks up after completing MedicX deal". Proactive Investors. 6 June 2019. Retrieved 3 March 2020.
  7. "Covid-19 legacy will be a shot in the arm for Primary Health Properties". Investment Trust Insider. 3 August 2020. Retrieved 30 August 2020.
  8. "Primary Health Properties buys diagnostic centre in London". Proactive investor. 14 April 2022. Retrieved 22 April 2022.
  9. "Primary Health Properties acquires 300th primary care centre". Property Funds World. 31 May 2017. Retrieved 5 July 2017.
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