Assura heads for REIT conversion

Warrington-based national GP landlord Assura Group has called an extraordinary general meeting to formally propose becoming a real estate investment trust.

Publicly listed Assura wrote to shareholders on Monday to give notice of the EGM due to be held at 10am on 15 February 2013 at the offices of Addleshaw Goddard LLP in London.

Directors will also present a "value creation plan" and proposed amendments to the articles of association for the purpose of UK REIT conversion.

Assura is among several property companies on the London Stock Exchange currently seeking to convert to REIT status after the cost of the switch was dropped.

Under the Finance Act 2012 the 2% entry charge payable by a company on joining the
REIT regime was abolished.

Assura Group is a long-term investor in and developer of primary care property. At 30 September 2012, Assura Group's property portfolio was valued at £556m.