Assura boasts £166m immediate development pipeline

In a trading update, the Warrington-based healthcare developer also said it had an annualised rent roll of £132.5m.

The update was for the third quarter of the year ending 31 December 2021. In addition to the announcement that Assura has a £166m immediate development pipeline, highlights from the report include the developer completing nine acquisitions worth a total of £105m and being on site with 14 developments with a total cost of £97m.

None of the new acquisitions are based in the North West, where it currently has 54 properties valued at £348m.

However, one of the immediate development pipeline projects is the 21,000 sq ft medical centre in Blackburn. Plans for the project were submitted in December and were described as a ‘game changer’ for the area by Dr Mark Dziobon, medical director of Blackburn with Darwen and NHS East Lancashire CCGs.

“It has been another strong quarter of progress as we have swiftly deployed the proceeds of our successful November equity placing,” said Assura chief executive Jonathan Murphy.

• Podcast: Murphy shares the practical ways Assura is making medical facilities as sustainably as possible.

In the current pandemic climate, Murphy does not see business slowing down for Assura.

“As the booster and vaccination programmes continue – with some of our buildings acting as major hubs – the urgent need for high-quality primary care capacity to support the significant effort required to address the backlog from the pandemic will be in even sharper focus in the coming months,” Murphy said.

“Assura continues to be a partner of choice to the NHS in helping to deliver this critical capacity.”

Assura reported a net debt of £957m with a weighted average interest rate of 2.3% as of 31 December 2021.