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London, 24th September 2013 - Jones Lang LaSalle’s Healthcare team has advised on a £62.5m sale on behalf of Trinity Medical Developments to buyer Assura Group. The leading primary care property investor and developer has acquired the entire issued share capital of Trinity Medical Properties Limited and Trinity Medical Developments Limited (together "Trinity").
Trinity’s portfolio comprises of 32 assets spread across England, Scotland and Wales, with the majority concentrated in the North East and Yorkshire. The medical centres are let to a mixture of GP’s, Primary Care Trust’s and pharmacy tenants, with a total gross income receivable of circa £4 million and with an average weighted unexpired term of 16.2 years.
A spokesperson for Jones Lang LaSalle’s Healthcare team said: “We received serious interest from several major primary healthcare players due to the shortage of suitable stock and funding in this sector. This culminated after a protracted marketing period of nearly two and a half years in the agreement and successful sale to Assura, their portfolio now standing at 197 primary care properties with a contracted passing rent of circa £40.7m. This deal demonstrates how the integrated service lines and partnership within Jones Lang LaSalle can create leading edge advice and success for our clients."
Emma Hollingshead - PR
+44 (0)207 399 5161