StockMarketWire.com - Primary Health Properties said it had acquired medical centre group Chapeloak Investments for £5.4m.

Chapeloak's sole activity was the ownership of the Oakwood Lane medical centre in Leeds.

The 1,177 square metre property was fully let to a GP practice that served over 13,500 patients.

Separately, the company said a subsidiary had been contracted to provide development funding for the construction of a medical centre in Langwith, Derbyshire at a cost of £1.8m.

Ownership of the centre would be transferred to Primary Health Properties upon its completion.

The transaction would increase the company's portfolio to a total of 315 assets, with a gross value of just over £1.5bn and a contracted rent roll of just under £80m.




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