Aberdeenshire medical centres change hands for £7.2m

Two Aberdeenshire healthcare facilities have been sold to a London-based investment group for a total of £7.2 million.
By The Newsroom
Published 24th Jan 2017, 07:27 BST
Updated 24th Jan 2017, 07:35 BST

This article contains affiliate links. We may earn a small commission on items purchased through this article, but that does not affect our editorial judgement.

The deals, in Cove Bay and Pitmedden, take Primary Health Properties' portfolio to 298. Picture: Phil WilkinsonThe deals, in Cove Bay and Pitmedden, take Primary Health Properties' portfolio to 298. Picture: Phil Wilkinson
The deals, in Cove Bay and Pitmedden, take Primary Health Properties' portfolio to 298. Picture: Phil Wilkinson

Primary Health Properties (PHP) said it had acquired the entire issued share capital of Carden Medical Investments, which owns the Cove Bay and Pitmedden medical centre, serving nearly 20,000 patients.

Cove Bay is fully let to a GP practice and the Scottish Ministers on leases that each have an unexpired term of just over 15 years. The Pitmedden facility is fully let to the Haddo Medical Group on a lease that has an unexpired term of 13 years.

Read More
PHP grows presence in Scotland
Hide Ad
Hide Ad

The deal takes PHP’s portfolio to 298 assets, including one property in Ireland, with a total value of about £1.2 billion.

Harry Hyman, managing director of PHP, said: “This acquisition adds to our portfolio of high quality, purpose built primary care facilities across the UK and enhances our sustainable, long-term income.”

Click here to ‘Like’ The Scotsman Business on Facebook

Related topics:AberdeenshireLondon