UK 03:41 Thursday, 24 September 2026
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Buying and developing sizeable modern health centres and renting them to general practitioners has been proving a profitable game for fully-listed Primary Health Properties (PHP), a UK real estate trust which aims to boost its present £1.1 billion of assets by at least £100 million a year and hopes to see rental growth in the sector accelerate from its present unexciting 1%. Having made nearly £37 million pre-tax in 2014, the London-based company is proposing to move to quarterly dividend payments and to carry out a four-for-one share split, after lifting net asset value 10% in the first half of this year to £377.5 million or 339p a share, with interim pre-tax profits up 47% to £32.4 million, helped by a £2.2 million interest rate derivatives gain, on a 5.2% increase in rental income to £30.6 million.
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