Primary Healthcare Properties says Ireland is now focus of its expansion plans where it hopes to double its portfolio of health centre properties
Primary Health Properties, which specialises in primary care centres, plans to focus its planned expansion on Ireland in the next few years. Photograph: iStock
Chief executive Mark Davies descried it as a “great set of results, solid and dependable and that is what we do best”. “Now that valuations have stabilised and look set to improve as rental growth accelerates, we are seeing more opportunities to acquire earnings accretive acquisitions,” Mr Davies said. The group specialises in primary care centres.
He described the purchase the Laya building in Cork as “opportunistic”, with PHP’s Irish business, Axis Reliability Services, having been involved in the fit-out of the it and other Laya centres and therefore knowing it intimately and having a strong relationship with Axa-owned private health insurer.
“We have turned the corner on that and the HSE has acknowledged that rents will have to increase, back to an economic level.”
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