Primary Health Properties announced its acquisition of Strawberry Hill Medical Centre in Newbury today for a total consideration of £7.2 million.
The property is currently fully let to two GP practices, providing 100% government-backed income with an unexpired term of 19 years.
Primary Health Properties added the GP practices served substantial patient lists, and benefited from facilities for carrying out broader medical services, including minor operations and blood tests.
Following the agreement, Primary Health Properties will hold a portfolio consisting of 512 assets with a contracted rent roll of £143 million.
“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,” said Primary Health Properties CEO Harry Hyman.
“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.”
