PHP’s Irish portfolio grows to 15 properties

London-listed Primary Healthcare Properties said its property portfolio had increased in value to £2.3 billion (€2.6 billion), including 15 properties in the Republic. The group invests in local primary healthcare facilities.

The Irish properties, which represent 6 per cent of PHP's total portfolio, increased in number following the company's merger with MedicX Fund in March. It includes developments in Bray, Co Wicklow; Athy, Co Kildare; Rialto in Dublin; and Mullingar, Co Westmeath.

PHP’s total portfolio has a contracted annualised rent roll of more than £125 million, up from £79.6 million at the end of last year.

"We are delighted to have successfully completed the merger with MedicX, bringing together two highly complementary portfolios and teams in the UK and Ireland, and the combined business represents a stronger platform for the future," said Harry Hyman, managing director of PHP.

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“This transformational deal has created significant value for shareholders of the enlarged group and we continue to work assiduously to deliver the significant operating and financial savings outlined when the merger was announced earlier this year.”