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Acquisition and development

Properties

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PHP’s acquisition team welcomes enquiries from investors, developers, GPs, CCGs and Health service bodies.

The PHP Group is a long term investor in the healthcare property sector and is dedicated to providing modern, fit-for-purpose premises throughout the UK. We have a specialist team responsible for growing the Group’s portfolio through forward funding new property developments, sale and leaseback transactions with owners/occupiers, standing investment purchases and corporate acquisitions.

The PHP Group has a portfolio of over 300 properties across the UK and is an experienced long term investor in the healthcare property sector, having first invested in 1995. Approximately 91% of the Group’s tenant base comprises either GPs, who receive rent reimbursement from the NHS, NHS Property Services Limited or other NHS bodies.

PHP is continually looking to grow its portfolio and would like to hear from:

  • medical operators or partnerships who own and occupy their existing premises and are looking to sell and lease them back or wish to relocate to new premises;
  • developers who are looking for assistance with medical property development or to fund and forward sell development opportunities; and
  • investors or agents that are selling healthcare related properties.

PHP invests in purpose-built healthcare real estate that is predominantly let to GPs or other NHS bodies or agencies. PHP also invests in other healthcare facilities, such as private medical facilities, where the majority of the underlying income of the operator is derived from the NHS.

There is a large number of existing medical and healthcare premises across the UK that are dated, no longer fit for purpose or in need of investment to bring them up to modern NHS standards. PHP has the resources to facilitate this and is experienced in funding new developments or the upgrade of existing premises.

If you are a developer looking to build a new medical centre, NHS building or healthcare property, then the PHP Group may be able to forward fund and acquire the development or simply commit to purchase your development upon completion. We can provide a flexible, cost-effective alternative to bank funding as an experienced and knowledgeable funding partner committed to the sector, providing certainty of finance and an agreed exit or sale of a project.

If you are a GP, CCG or other NHS body considering developing a new property, we are keen to hear from you too. We work with a number of specialist development partners that have a depth of experience in scoping, designing, procuring and delivering high quality healthcare properties, with the PHP Group assisting in structuring and funding your scheme.

PHP has a track record of completing sale and leaseback transactions with GPs who have sought to realise the value of their property asset or require a different ownership structure due to changes in their partnership. We are keen to work with GPs who own their buildings and are looking to sell them, either as an investment (where there are leases already in place) or on a sale and leaseback basis.

Sale and leaseback means that we will buy your medical centre and then immediately lease it back to the partners of incumbent GP practices or other owner occupiers. It enables you to retain the use of your premises on a longterm basis whilst releasing capital tied up in the property. It may also be the catalyst for fresh investment into the property where additional capital may not be available to you.

There are a number of possible benefits to you:

  • it may allow you to settle any existing debt associated with the property and release equity;
  • if there are partners that wish to retire or extract themselves from existing financial commitments, a sale and leaseback can assist the process;
  • the lease provides security for the partners over the long term, allowing you to remain in occupation and continue to operate with no disruption to your practice/business;
  • you will have rights to renew the lease at the end of the initial term; and
  • the PHP Group’s status as an REIT could also provide for the efficient and lowcost disposal of your property investment.

We have an experienced team to help you through this process, so please contact us today for a confidential discussion.

We also have specialist healthcare property management and asset management teams to assist with your day-to-day management obligations and your longer term accommodation requirements as your operations develop or change.

Meet the team

The experienced team is available to discuss your plans for the development of new premises or the disposal of your existing properties or healthcare property investments.

David joined the Nexus team in August 2016 and oversees the investment, asset management, landlord and tenant and property management teams at Nexus who advise Primary Health Properties PLC. David is a Chartered Surveyor with over 20 years' post qualified experience with Jones Lang LaSalle, Lasalle, Axa, LandSec and MWB.

David has considerable industry experience having worked in the listed and unlisted sectors, with all property types, tenures, lot sizes and location. He has also worked closely with occupiers and landlords to adopt new concepts and innovations having run and helped build a premium serviced office brand and introduced award winning sustainability technology to the UK and European real estate markets.

David sits on the British Property Federation Primary Health Care Committee.

PA: Claire Murphy – 0207 104 5599
Email: claire.murphy@nexusgroup.co.uk
Email: david.austin@nexusgroup.co.uk

David was appointed Investment Director in December 2016 and is responsible for the acquisitions team. Prior to joining PHP David had prior experience of operating, growing and exiting a private equity backed property company, had practised as an investment advisor to institutional and property company clients and worked in a major national valuation team. Over the last 15 years David has worked across all property sectors but with an increasing focus on operational led property and with substantial expertise in sale and leaseback, development led transactions and investments.

Direct dial: 0207 104 5594
Email: david.bateman@nexusgroup.co.uk

Simon joined the Nexus investment team in March 2019 following the merger of MedicX with PHP. Prior to this, Simon was the Primary Care Investment Director at Octopus Healthcare for over 11 years where he was instrumental in growing the UK and Irish portfolio of MedicX by over 120 assets. This was achieved through a mix of corporate, standing investment and forward funding transactions.

Simon is a Chartered Surveyor with over 30 years’ experience, working across all mainstream property sectors in landlord, tenant and agency roles for companies including Capital & Counties, Thorn EMI, Associated British Foods, Colliers and Strutt & Parker. Simon is on the Committee of the Primary Care Premises Forum.

Direct dial: 0203 854 1184
Email: simon.hocken@nexusgroup.co.uk


Tony is a chartered surveyor with 15 years’ experience in primary care development. Tony’s teams have delivered some 30 new premises across the south of the UK, with a particular focus on the south east and greater London. Tony is conversant with all aspects of primary care premises development from the initial project brief right through to achieving practical completion on the premises. Tony’s professional background is in strategic land management, managing agency, commercial secured lending and development and has included both the public and private sectors.

Email:tony.coke@nexusgroup.co.uk

Michael is a Chartered Surveyor with 5 years’ experience in core and specialist real estate sectors. Prior to joining Nexus, Michael worked for Deloitte, advising occupiers and investors on their real estate portfolios.

Michael works in the PHP acquisitions team, selectively acquiring primary care facilities in the UK and Ireland. He has experience acquiring standing investments, sale and leaseback properties and development opportunities.

Direct Dial: 0207 104 5582
Email: michael.griffith@nexusgroup.co.uk

Lucas joined PHP in March 2019 as an Investment Surveyor in the acquisitions team. Prior to Joining PHP, he worked for Octopus Healthcare in the investment and development team for primary care properties.

Lucas is currently studying to become a Chartered Surveyor and started his career working for NHS Property Services in their London office, where he carried analysis on a range of asset management and strategy
decisions.


Direct dial: 0203 854 1163

Email: lucas.kester@nexusgroup.co.uk


Claudia joined Nexus in July 2013 having achieved a 2.1 in Real Estate Management from Oxford Brookes University and qualifying as a Chartered Surveyor in October 2015. Claudia works within the acquisitions team, acquiring modern primary health facilities for the PHP portfolio in the UK and Ireland, consisting of both standing let assets and developments. Claudia also has experience in other specialist sectors and was involved in the sale of the Nexus Pine Fund to Universities Superannuation Scheme (“USS”) for £95 million in June 2017.

Direct dial: 0207 104 2062
Email: claudia.steel@nexusgroup.co.uk

Jemma joined Nexus from Octopus in march 2019, after the completion of PHP merge with MedicX Fund having worked for Octopus healthcare who are the Fund Advisors for the MedicX Fund for over 13 years. She transferred over to Nexus in March 2019 as part of the PHP / MedicX Fund merge. Jemma works in the development team working with the NHS and GPs to deliver fit for purpose new medical centres. Jemma is based in Nottingham and covers central England.

Email: jemma.whetton@nhexusgroup.co.uk

Development in action

Bray Primary Care Centre

Bray Primary Care Centre is a brand new 4,800 sqm purpose-built development with an anticipated completion in autumn 2019. It will provide a range of services to the local community including GP services, mental health, dental, dietetics, physiotherapy and psychology services and also includes a pharmacy and café.

“It has been a pleasure to work with the PHP team on this deal. They really understand the commercials on these type of transactions which ensures a quicker turnaround; it took less than three months from start to close, and enabled us to begin on site as planned. It is a win–win for both parties and their collaborative approach has made the whole forward funding/monitoring part much easier than traditional bank financing and it allows us to better manage our risks while protecting return. We hope to work with PHP in the future on other Primary Care Centre.”

Leslie FitzPatrick, Chief Financial Officer, Collen Construction Limited

Highlights

  • Building Energy Rating of A3
  • Air source heat pumps
  • New LED lighting
  • Rainwater harvesting system

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