Primary Health Properties PLC (LSE:PHP) has struck a EUR10.1mln deal to acquire the Clonbrusk Primary Care Centre, in Athlone, Republic of Ireland.
The deal sees the healthcare-focused property investor acquire a modern, purpose-built primary care centre that has let to Ireland’s public healthcare provider, the Health Service Executive (HSE).
It is expected to complete by the end of this week and brings the group’s portfolio to 517 property assets, of which 20 will now be in Ireland. Altogether, the portfolio will now have contracted rent of close to GBP139mln.
“We are delighted to have acquired this large primary care centre of approximately 44,000 sq ft, further increasing the group’s footprint in Ireland in line with our stated strategy,” said Primary Health Properties chief executive Harry Hyman.
“The primary care centre is the principal centre within its locality, delivering a suite of core primary care outpatient services including: audiology, vaccinations, cervical checks, cryosurgery, diabetes care, family planning, maternity & infant care, minor surgery, phlebotomy and an x-ray service.”
Hyman added: “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 development of a modern healthcare infrastructure in these markets.”