Assura is expanding its primary care property portfolio with rentals approaching £150m
Assura is expanding its primary care property portfolio with rentals approaching £150m
- The company said it had 612 properties with an annual rental value of £146.9 million
- This happened in the meantime until September 30th
Assura, a primary care real estate developer, recorded “another period of strong financial performance” in the first half of the year by expanding its portfolio and increasing rental income.
The Altrincham-based company’s portfolio grew to 612 properties with an annual rental value of £146.9 million in the six months to September 30.
The FTSE 250 group also said it completed two project developments during the period – Kettering and Wolverhampton – as well as an acquisition in Ireland, which includes the opportunity for a significant asset expansion project.
Assura CEO Jonathan Murphy (pictured) praised the fact that the company had delivered another period of strong financial performance and disciplined operations
Assura CEO Jonathan Murphy said: “Assura has delivered another period of strong financial performance and disciplined operations.”
“We have continued to focus on areas of strategic expansion to unlock value through several attractive portfolio additions.”
“This includes the completion of our state-of-the-art day hospital in Kettering for Ramsay Healthcare, moving on-site with an outpatient center for the local Bury St Edmunds NHS Trust, designed to be net zero carbon. and the acquisition of another high quality asset in Ireland with significant asset enhancement opportunity.”
The group also reported that it had completed five asset improvement capital projects, totaling a total spend of £3.3 million.
Around 152 rent adjustments were made during the quarter, covering £19m of existing rent and resulting in an increase of £1.5m.
Murphy added: “In addition, we made good operational progress during the period.” We completed 152 rental adjustments to deliver a £1.5m increase and – as separately announced today – we refinanced our revolving credit facility, enlarged the facility, reduced costs to reflect the strength of the business and increase sustainability. linked KPIs.
“We continue to see growing and sustained demand for quality healthcare buildings in a community setting. “Our leading market position, strong and sustainable balance sheet and pipeline of growth opportunities will enable us to continue to execute on our proven strategy.”
Assura shares fell 1.24 percent to 41.38 pence in morning trade on Monday.
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