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DTZ advises Primary Health properties on £14.1m acquisition of Rotherham Community Health Centre

wantspacegotspace.co.uk - DTZ advises Primary Health properties on £14.1m acquisition of Rotherham Community Health CentreThe Leeds office of DTZ, a UGL company, has advised Primary Health Properties PLC on the off-market acquisition of the Rotherham Community Health Centre on Greasbrough Road, Rotherham, South Yorkshire.

Built in 2008, the property comprises a purpose built medical centre providing a number of specialist health care departments, call centre and pharmacy. Totalling circa 4,645 sq m (50,000 sq ft) the property is wholly let to Rotherham Primary Care Trust, with approximately 16 years remaining on the lease, and is subject to fixed rental uplifts throughout the remainder of the term.

Tim Walker-Arnott, Property Director at PHP commented: “Larger Medical centres of this type are key to the delivery of local NHS services and encapsulate PHP’s investment acquisition policy. Thanks to the cooperation of all parties, and the use of PHP’s available finance, this purchase was completed in a matter of a few weeks.”

James Lawlor, Associate Director in DTZ’s investment team, said: “PHP is one of the largest providers of modern primary healthcare facilities and the strong tenant covenant, unbroken lease term of 16 years and fixed future rental uplifts provide a secure income stream. Assets of this quality are proving ever more difficult to source and DTZ is delighted to have concluded this acquisition on behalf of PHP”.

Posted by The Editor (wantspacegotspace) on 20th November 2012 (updated 21/11/2012)

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