PHP buys Surrey rehab centre

Primary Health Properties has bought a clinical facility in Surrey for £7m. The newly refurbished facility in Chertsey is let on a new 20-year FRI lease to the Surrey and Borders Partnership NHS Foundation Trust and benefits from RPI-led rent reviews. The trust will mainly be providing drug and alcohol rehabilitation services from the building, with its services relocated from the nearby St Peter’s Hospital, in line with the NHS’s strategy of moving ancillary services away from hospital settings. The deal takes PHP’s portfolio to 522 assets, 20 of which are in Ireland, with a contracted rent roll of £141m. Chief executive Harry Hyman said: “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.” To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews