New Business of the Year 2008

Business description: AH Medical Properties Plc is a property investment company specialising in health and medical related venues. It has grown rapidly through development of numerous buildings under an exclusive agreement with Primary Care Infrastructure specialist Ashley House Plc and two acquisitions. The business has acquired and developed £100m of properties and joined PLUS in January 2007.

Judges’ comments: AH Medical Properties has enjoyed a phenomenal year on Plus Markets, attracting £13m in two tranches of fundraising and doubling in market cap. The judges, however, were primarily attracted by the investment portfolio’s savvy decision to focus on the niche area of NHS primary care buildings, such as doctors’ surgeries and pharmacies. It’s a strategy the judges considered particularly ‘recession-proof’ ahead of the expected economic uncertainty that could impact heavily on the rest of the property market.

With the portfolio already valued at £45m, AH Medical Properties provided clear evidence there was plenty of market share left to exploit. It also impressed the judges with its policy of letting all buildings on 25-year leases, ensuring a sound financial footing for growth and to leverage further growth capital.

www.ashleyhouseplc.com