Primary Health Properties (PHP), the primary healthcare property provider, today confirmed that it would convert to UK REIT status from 2 January 2007

Following Brixton’s announcement this morning, shareholders representing more than 12 million shares in PHP endorsed Harry Hyman’s plan to become a REIT at the earliest possible opportunity at an extraordinary general meeting held this afternoon.

Conversion will cost PHP a one-off charge of £4.5m, based on the value of qualifying assets as at 30 June 2006.

Harry Hyman, executive managing director, said: 'We see this as a highly beneficial opportunity for PHP investors and are pleased that the shareholders appreciate the potential that converting to a REIT offers.

'PHP has always implemented a policy of maximum possible distribution of after-tax profits and REIT status will allow us to enhance this policy.'