Rent levels up for Assura
The Warrington-based primary care property investor developer has announced a £6.8m increase in rent since March 2014, due to the acquisition of £119m of new property in the last two months.
Assura's passing rent roll is now £48.9m, up from £41.8m in March.
In its interim management statement for the period from 1 April to 30 July, Assura said that it had seen an 18% growth in investment property from acquisitions since the year-end.
In June, Assura bought a portfolio of 28 medical centres from MP Realty Holdings Group for £107m, which included the assumption of associated debt of £85.5m. In July, Assura acquired a fully let medical centre in Middlesbrough for £12.3m.
Assura is currently on site at four developments in Market Weighton, Lanchester, Sudbury and Blaenavon, with a combined value on completion of £19.3m.
As of March 2014, Assura's property portfolio was valued at £668m.
Graham Roberts, chief executive of Assura, said: "The group has continued its strong progress into this financial year. We have an exciting development programme, have added to our strong portfolio, and now have a passing rent roll of £48.9m. We remain dedicated to delivering the high quality primary care space that this country increasingly needs."
The Assura share price remained stable this morning at 44p.
