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 was appointed Investment Director in 2016 and subsequently to the PHP PLC Executive Team in 2021. David is responsible for the PHP PLC investment team (UK & Ireland) with significant input across the business around investor presentations, strategy, development and property management.
Prior to joining PHP PLC David had 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 20 years David has worked across all property sectors but with an increasing focus on operational led property with substantial expertise in sale and leaseback, corporate SPVs, development led transactions and investments.
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.
Claudia is a Chartered Surveyor with over 7 years’ experience working in primary care and other specialist property sectors including education. Claudia works within the PHP acquisitions team, whose main objective is acquiring primary health facilities across the UK and Ireland. Claudia is heavily involved in all stages of the acquisition process, and has transacted on numerous assets since joining PHP in July 2013. She has a broad acquisitions experience spanning a wide variety of transaction structures covering special purpose vehicles, standing let investments, sale and leasebacks, development fundings and large portfolio acquisitions.
Jack joined PHP PLC in April 2021 as a Senior Surveyor working within the Investment Team.
Prior to joining PHP PLC, Jack worked at Colliers International within the City Investment Team advising a range of clients on acquisitions and disposals across the City of London, City Fringe and Southbank.
Jack holds a BSc in Economics, MSc in Real Estate and qualified as a Chartered Surveyor in 2018.
Direct Dial: 07597 581301
Lucy joined the PHP Investment Team in February 2021 as a Graduate surveyor.
Lucy joined from BNP Paribas having worked within their Occupier Solutions team acting for the Post Office Ltd.
She completed her undergraduate degree in Geography at the University of Exeter before going on study MSc Real Estate at University of Reading and is currently working towards completing her APC accreditation.
Michael joined PHP PLC in July 2021 as a Senior Surveyor working within the Investment and Development team.
Prior to joining PHP PLC, Michael worked at JLL within the Living Investment and Advisory business providing advice to a range of clients on acquisitions, disposals and valuation with a particular focus on Purpose Built Student Accommodation and Affordable Housing across the UK. Prior to Michael’s immediate past role he has had experience at JLL in City fringe investment, strategic development consulting, valuation and corporate finance.
Michael holds a BSc in Geography from the University of Exeter, MSc in Real Estate from the University of Reading and qualified as a Chartered Surveyor in 2018.
Nick joined the PHP Investment Team in January 2020 and during this time he has managed the acquisition of standing let assets, corporate vehicles and development funding led opportunities across the UK & Ireland.
Nick is a Chartered Surveyor with 9 years’ experience, having worked across multiple sectors including Primary Care, Supported Living, Elderly Care, Private Hospitals, Offices and Industrial. Prior to joining PHP PLC, Nick held positions at Cushman & Wakefield and NHS Property Services. Alongside his MRICS accreditation, Nick holds his CFA Investment Management Certificate.
Development in action
Eastbourne Primary Care Centre, East Sussex
Eastbourne Primary Care Centre (“PCC”) is a new 2,000 sqm purpose-built development with an anticipated completion in Q1 2021. The scheme will bring together two local GP practices who currently accommodate converted houses which are too small and no longer suitable for delivering the best care for patients.
The scheme will address significant building quality issues by providing a future proof building which provides much needed capacity for a patient list of 23,000, which is later expected to rise beyond 30,000. In addition, the new PCC development will enable the practices to increase the range and quality of services provided to patients according to local need, resultantly reducing the pressure on local hospital services, which is a key priority in the local Sustainability and Transformation Plan.
The PCC will be the largest primary care provider in the town and will provide a range of services to the local community including GP services, dementia, health and wellbeing and diagnostic services and will also include an integrated pharmacy.
- The development will achieve a BREEAM rating of "Excellent".
- Low energy light fitting (including LEDs) will be provided throughout the building complete with occupancy, daylight and dimming controls.
- There will be an indoor air quality plan to minimise air pollution within the building and areas will be naturally ventilated where possible.
- Photovoltaic panels will be installed on the roof of the building.
- Two electric charging points will be installed which will be used by staff and patients.