Primary Health Properties PLC’s (LON:PHP) boss Harry Hyman says it has plenty of cash for acquisitions after snapping up its 17th site in Ireland.

The €18mln project is a primary care centre in Arklow, just south of Dublin and will be purpose-built to meet recently introduced nearly zero-energy building regulations.

Construction has also restarted on other projects in Ireland as coronavirus restrictions have lifted and Hyman says the pipeline there remains very strong.

The trend toward shifting less critical procedures out of hospitals and into primary care centres and GP surgeries has accelerated due to the virus, he adds.

Around 90% of rents from the portfolio are guaranteed by either the UK or Irish governments and payments for the quarter just ended are at 97-98%, says Hyman.

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