Healthcare facility investor, Primary Health Properties announced that it acquired Chiswick Medical Centre in London for £34.5m on Thursday.
Primary Health Properties has completed the purchase of the Chiswick Medical Centre in London for £34.5m and the property is fully leased to HCA International Ltd for just under 20 years, with five annual compounded RPI led rent reviews.
The Chiswick Medical Centre has undergone a comprehensive tenant-led fit-out to establish a unique diagnostic and private healthcare centre with some of London’s most advanced medical technology.
The hospital offers a variety of services and specialised teams in neurology, cardiology, orthopaedics, urology, and gastroenterology, as well as women’s healthcare and a children’s unit.
Primary Health Properties’ portfolio will grow to 524 assets, 20 of which are in Ireland, with a committed rent roll of slightly under £143 million as a result of this transaction with Chiswick Medical Centre.
Harry Hyman, Chief Executive Officer, Primary Health Properties, stated, “We are delighted to have acquired this state-of-the-art diagnostic centre in London, let to an excellent covenant which provides a wide range of services which alongside the NHS is assisting with tackling the significant backlog of referrals following COVID-19.”
“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 healthcare systems in these markets through the provision of modern, primary care infrastructure.”
Primary Health Properties’ shares rose 0.2% to 150p after the announcement of the completed acquisition of Chiswick Medical Centre in early morning trade on Thursday.