PHP adds Cardiff GP surgery to portfolio

Primary Health Properties has added a medical centre in Cardiff to its portfolio for £4.5m. Harry Hyman’s healthcare investor bought the entire issued share capital of Sarak Group, whose sole asset is the Crwys Medical Centre in the Cathays area of the Welsh capital. Approximately £1m of the purchase price will be handed over to two of the sellers as 595,167 12.5p shares in PHP. The Crwys Medical Centre is a modern, purpose-built primary care centre, comprising 9,384 sq ft of lettable space, over three floors. The property is fully let to a large local GP practice serving more than 8,000 patients and to a pharmacy. The deal brings PHP’s portfolio to a total of 516 assets, of which 19 are in Ireland, with a contracted rent roll of more than £138m.   To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews