Primary Health Properties


Primary Health Properties plc is a British-based real estate investment trust, specialising in the rental of flexible and modern primary healthcare facilities within the United Kingdom and Ireland. The company is listed on the London Stock Exchange and is also a constituent of the FTSE 250 Index

History

The company was incorporated in 1995, floated on the Alternative Investment Market in 1996, and listed on the London Stock Exchange in November 1998. The firm switched to Real Estate Investment Trust status when REITs were introduced in the United Kingdom in January 2007.
In September 2018 it bought an accommodation block next to Wansbeck General Hospital in September 2018, and also acquired Jellia Holdings, the owner of three purpose-built primary care centres in Navan Road, Dublin, Newbridge, County Kildare and Celbridge.
In June 2019 PHP completed a £1 billion merger with MedicX, creating the UK’s largest UK healthcare property investor, with a combined portfolio of almost 500 properties.

Property portfolio

As at 31 December 2019, it had a property portfolio worth approximately £2.4 billion. 90% of the rent roll is paid for by the NHS, 9% is due from pharmacies.

Management

PHP uses one organisation, Nexus Tradeco Limited, as manager, rather than employing its own administrative staff; it has no actual employees. The managing company have representation on the board; the managing director is also the managing director of Nexus Tradeco Limited.