Primary Health Properties
 | |
| Company type | Public real estate investment trust |
|---|---|
| Industry | Investment trust |
| Founded | 1995 |
| Founder | Harry Hyman |
| Headquarters | London , United Kingdom |
Key people | Harry Hyman (Chairman) Mark Davies (CEO) |
| Revenue |  £181.7 million (2024)[1] |
| £103.4 million (2024)[1] | |
| £41.4 million (2024)[1] | |
| Website | www.phpgroup.co.uk |
Primary Health Properties plc is a British real estate investment company headquartered in London, England. As of June 2026, the company owns and operates more than 500 primary healthcare facilities within the United Kingdom and Ireland.[2] It is listed on the London Stock Exchange and is also a constituent of the FTSE 250 Index.[2]
History
[edit]Primary Health Properties was incorporated in 1995, floated on the Alternative Investment Market in 1996, and listed on the London Stock Exchange in November 1998. The company switched to Real Estate Investment Trust status when REITs were introduced in the UK in January 2007.[3]
In September 2018, Primary Health Properties acquired an accommodation block next to Wansbeck General Hospital in September 2018, as well as Jellia Holdings, the owner of three purpose-built primary care centres in Navan Road, Dublin, Newbridge, County Kildare and Celbridge.[4][5]
In June 2019, Primary Health Properties completed a £1 billion merger with Medicx Fund, creating the largest healthcare property investor in the UK, with a combined portfolio of almost 500 properties.[6][7]
In 2020, the company raised £140 million through a placing of 96.6 million shares to fund future acquisitions.[8]
In 2022, it bought Chiswick Medical Centre, which is let to HCA International Ltd, in London for £34.5 million.[9]
In May 2025, the company made an offer of £1.68 billion to acquire Assura plc.[10]
Operations
[edit]In 2017, it was reported that 90 per cent of the company's rent came from the National Health Service with nine per cent from pharmacies.[11] The company had a portfolio worth £2.8 billion as of 31 December 2023.[1]
Notes
[edit]- ^ a b c d "Annual Results 2024" (PDF). Primary Health Properties. Retrieved 12 March 2025.
- ^ a b Howard, Tom (2025-06-11). "Assura recommends KKR's raised £1.7bn offer". www.thetimes.com. Retrieved 2025-06-12.
- ^ Chester, GA (2010-09-24). "A Guide To REITs". The Motley Fool. Retrieved 2010-09-25.
- ^ "Primary Health Properties buys three more centres". Irish Times. 5 September 2018. Retrieved 14 October 2018.
- ^ "Investor buys Wansbeck General Hospital building". Insider Media. 19 September 2018. Retrieved 14 October 2018.
- ^ McCarthy, Sebastian (24 January 2019). "Real estate merger to form biggest ever UK healthcare property investor". City AM.
- ^ "Primary Health Properties bulks up after completing MedicX deal". Proactive Investors. 6 June 2019. Retrieved 3 March 2020.
- ^ "Covid-19 legacy will be a shot in the arm for Primary Health Properties". Investment Trust Insider. 3 August 2020. Retrieved 30 August 2020.
- ^ "Primary Health Properties buys diagnostic centre in London". Proactive investor. 14 April 2022. Retrieved 22 April 2022.
- ^ Murray, Amber (2025-05-16). "PHP makes surprise third approach for Assura at £1.68bn". City AM. Retrieved 2025-06-12.
- ^ "Primary Health Properties acquires 300th primary care centre". Property Funds World. 31 May 2017. Retrieved 5 July 2017.
