Primary Health Properties

Primary Health Properties plc
Public real estate investment trust
Traded as LSE: PHP
Founded 1995
Founder Harry Hyman
Headquarters London, United Kingdom
Revenue £72.5 million (2017)[1]
£127.1 million (2017)[1]
£91.9 million (2017)[1]
Total assets £1.4 billion (2017)[1]
Website www.phpgroup.co.uk

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. It is a REIT listed on the London Stock Exchange, and the one of three focused on the healthcare sector.[2]

A share issue in 2018 raised £115 million. In December 2017 it had 306 healthcare centres, including one under development, in the UK and in the Republic of Ireland valued at a total of £789 million.[3]

Property portfolio

As of the end of 2017, it had a property portfolio of 306 assets worth approximately £1.4 billion. 90% of the rent roll is paid for by the NHS. 9% is due from pharmacies.[4] It bought an accomodation block next to Wansbeck General Hospital in September 2018, [5] and acquired Jellia Holdings Limited which owns three purpose-built primary care centres in Navan Road, Dublin, Newbridge, County Kildare and Celbridge.[6]

Management and ownership

PHP uses one organisation, Nexus Tradeco Limited (Nexus Tradeco), as manager,[7] rather than employing its own administrative staff; it has no actual employees.[8] The managing company have representation on the board; the managing director is also the managing director of Nexus Tradeco Limited.[9]

Voting Rights%
Unicorn Asset Management24,977,3274.03
Blackrock41,867,7716.76
Investec Wealth & Investment37,515,9466.06
CCLA Investment Management22,899,6753.70
Charles Stanley29,427,5764.75
Troy Asset Management24,308,0003.92
Hargreaves Lansdown23,241,4903.75

Notes

  1. 1 2 3 4 "Annual Report 2017" (PDF). Primary Health Properties. Retrieved 5 May 2018.
  2. ↑ Chester, GA (2010-09-24). "A Guide To REITs". The Motley Fool. Retrieved 2010-09-25.
  3. ↑ "Primary Health Properties eyes pipeline with £100m fund raise". Citywire. 27 March 2018. Retrieved 10 June 2018.
  4. ↑ "Primary Health Properties acquires 300th primary care centre". Property Funds World. 31 May 2017. Retrieved 5 July 2017.
  5. ↑ "INVESTOR BUYS WANSBECK GENERAL HOSPITAL BUILDING". Insider Media. 19 September 2018. Retrieved 14 October 2018.
  6. ↑ "Primary Health Properties buys three more centres". Irish Times. 5 September 2018. Retrieved 14 October 2018.
  7. ↑ 2011 Annual Report, p. 21
  8. ↑ 2011 Annual Report, p. 18
  9. ↑ 2009 Annual Report, p. 24
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