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.