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Primary Health Props buys Irish care centre for €10.1m

By Michele Maatouk

Date: Thursday 21 Oct 2021

Primary Health Props buys Irish care centre for €10.1m

(Sharecast News) - Primary Health Properties, an investor in modern primary healthcare facilities, has agreed to buy the Clonbrusk Primary Care Centre in Ireland for €10.1m.
The property is a modern, purpose-built primary care centre which was developed in 2013 and is effectively 100% let to the Health Service Executive, which is Ireland's equivalent to the NHS. It has an unexpired lease term of 17.5 years.

The acquisition is expected to complete on 22 October and will increase the company's portfolio to 517 assets, 20 of which are in Ireland. The portfolio now has a contracted rent roll of almost £139m.

Chief executive officer Harry Hyman said: "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.

"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."

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