PHP makes largest Irish acquisition to date with €29 million deal

The Ballincollig property acquired by PHP is fully let to the HSE

Harry Hyman, chief executive of PHP

Primary Health Properties (PHP), a leading UK investor in modern primary healthcare facilities, has agreed to acquire Ireland’s first Enhanced Community Care (ECC) facility at Ballincollig, near Cork, Ireland, for a total consideration of €29.64 million.

The purchase is PHP’s largest single Irish acquisition to date.

The property is fully let to the HSE on a 25-year lease and benefits from five yearly, compounded annually, Irish inflation indexed rent reviews, PHP said in a statement.