Primary Health Properties shares were up 0.2% to 151.5p in early morning trading on Monday after the company unveiled its first net zero carbon direct development.
The firm announced that it had signed the deal for a brand new purpose-built facility based in Eastergate, West Sussex, for a reported gross development value of £6.7 million.
Building is scheduled to commence on the project imminently, with completion anticipated for Q2 2023.
The deal is set to increase Primary Health Properties’ portfolio to 523 assets, with a contracted rent roll of over £141 million.
Primary Health Properties will apparently be one of the first UK health facilities to achieve a net-zero rating, and will reportedly achieve net-zero carbon by minimising and offsetting embodied carbon in its construction materials and enabling occupiers to run operations in the building with net zero carbon emissions.
The company purports that its building is set to achieve BREEAM Excellent standards and an EPC rating of A, alongside lowered levels of waste and water use with the addition of responsibly sourced and sustainable materials.
The facility has been designed to include general practice healthcare services, physiotherapy, mental and occupational health, social prescribing, care co-ordination, clinical pharmacy and training for GPs, nurses and paramedics once the building is operational.
“We are delighted to have commenced work on one of the UK’s first NZC healthcare buildings,” said Primary Health Properties CEO Harry Hyman.
“Starting work on our first NZC direct development is a significant achievement and demonstrates our strategic commitment to transitioning all our operational, development and asset management activities to NZC by 2030 and to help our occupiers achieve NZC by 2040 as set out in our recently announced NZC Framework.”
“This development is the first in our strong pipeline of £163 million of direct development opportunities providing short-cycle and de-risked development activity, adding high quality assets to the portfolio and capturing attractive development margins.”