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Connell C - LB Mar 2022

Primary Health Properties acquires medical centre in Newbury

Primary Health Properties, a real estate investment trust that invests in modern primary healthcare facilities, has acquired the Strawberry Hill Medical Centre, in Newbury, Berkshire for £7.25 million.

The property is fully let to two GP practices, with an unexpired term of 19 years, which have substantial patient lists and also facilities for carrying out broader medical services such as minor operations and blood tests.

Following completion, Primary Health Properties’s portfolio will comprise 512 assets, of which 20 are in Ireland, with a contracted rent roll of £143 million.

Harry Hyman, chief executive of Primary Health Properties, said: “We are delighted to have acquired this medical centre which acts as a hub for the delivery of primary care and broader medical services in the growing town of Newbury. The property also provides accommodation for district nurses, a clinical pharmacy and social prescribing services.

“We have a strong pipeline of opportunities in the UK and Ireland and are well positioned to continue to grow our portfolio selectively and to support the healthcare systems in these markets through the provision of modern, primary care infrastructure.”

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