West Derby Medical Centre
West Derby Medical Centre was completed in 2016. Image from Google

Healthcare landlord buys in Liverpool

Neil Tague

Primary Health Properties has acquired the 2016-built West Derby Medical Centre for £4.6m.

The facility is leased to a GP practice with a patient list of more than 13,000 patients, along with a pharmacy.

London-registered PHP is one of the key players in the healthcare development and investment market, with a portfolio of around 500 UK properties, most of them GP surgeries, with other properties let to NHS organisations, pharmacies and dentists.

The PHP portfolio has a contracted rent roll of approximately £135.3m,average unexpired lease terms of more than 12 years and an occupancy rate of 99.5%.

Perhaps unsurprisingly in a year that has seen such focus on healthcare and wellbeing, the healthcare development sector has been busy throughout 2020.

Warrington-headquartered Assura completed six schemes in the half-year to October, reporting pre-tax profit up 20% to £43.8m as its rent roll climbed to £113m. Assura’s portfolio is now closing in on 600 properties.

PHP also announced an agreement to fund and develop a new site in Ireland. Harry Hyman, managing director, said: “Both properties will support our strategy of investing in the health of our communities by providing modern facilities to deliver a wide range of primary care services.

“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.”

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More chance of winning lottery than seeing a gp at west derby medical centre

By West derby resident