Healthcare investor expands national reach with £2.8m forward funding acquisition
A national investor in healthcare facilities has agreed to forward fund the development and acquisition of a primary care centre in Wales.
The £2.8m project will see the firm contracted with a developer to create the purpose-built facility in Llanbradach near Caerphilly.
Covering 667 sq ft, the property will be let to the Aber and Village Medical Practices for an initial term of 25 years upon completion.
The acquisition forms part of the London-headquartered firm’s plan to expand its national footprint through a series of acquisitions.
Harry Hyman, managing director of Primary Health Properties, commented: “We are delighted to announce this transaction, one of a number of development projects the Group is pursuing at present funded with the proceeds of our successful £100m placing in September 2019.
“The transaction improves the quality of our portfolio by delivering a new facility with a long unexpired lease term.
“We continue to have a strong pipeline of opportunities in the UK and Ireland and are well positioned to continue to grow our portfolio.”
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