19 Apr Primary Health Properties buys Chiswick Medical Centre

Primary Health Properties has purchased Chiswick Medical Centre for £34.5million.

The property is fully let to HCA International with an unexpired term of little less than 20 years and benefits from five yearly annually compounded RPI-led rent reviews.

The property has been subject to a comprehensive tenant led fit-out to create a bespoke diagnostic and private healthcare facility providing some of the best medical technology available in London. The facility provides a number of services and expert teams specialising in neurology, cardiology, orthopaedics, urology and gastroenterology as well as women’s healthcare services and a dedicated children’s unit.

This acquisition increases PHP’s portfolio to a total of 524 assets.

Harry Hyman, Primary Health Properties chief executive, said: We are delighted to have acquired this state-of-the-art diagnostic centre in London, let to an excellent covenant which provides a wide range of services which alongside the NHS is assisting with tackling the significant backlog of referrals following COVID-19.

“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.”