GP Landlord Primary Health Properties has acquired 14 primary care properties for a total of £23.5 million from Aim-listed healthcare property group CareCapital.

The properties were valued at £22.9 million in CareCapital’s most recent interim accounts and provided an annual rental income of £1.4 million.

Primary Health Properties has also entered into an agreement to provide for the funding and disposal on completion of further properties in CareCapital's development pipeline.

Dr Michael Sinclair, chairman of CareCapital, said: “This transaction has strengthened our balance sheet and provides a base from which to progress the opportunities in the remaining development pipeline. This pipeline, as previously disclosed, has a combined developed value of over £80 million.”

Sister companies of HealthInvestor have an interest in Primary Health Properties.