H Property alongside Brian Edwards in CBRE are delighted to have introduced and advised Primary Health Properties (PHP) on the off market acquisition of the Laya Health and Wellbeing Clinic and offices in Little Island Cork.
The property which is fully occupied and leased to Laya Healthcare (a subsidiary of Axa) was acquired for €22,000,000 representing an equivalent yield of 7.0%. The lease has 12 years unexpired with fixed rental uplifts in 2027 and 2032.
The property serves as a bespoke urgent care and diagnostic facility. It has been subject to a comprehensive, tenant-led, €5,500,000 fit-out which was project managed on Laya’s behalf by Axis PHP, the company’s team in Ireland.
This acquisition is one of the largest regional investment transactions of the year so far in 2025 and brings PHP investment in Cork to over €50m over the last 18 months.