Assura adds four new medical centres

RNS Number : 9022V

Assura Group Limited

03 November 2014

 



03 November 2014

Assura Group Limited

Assura adds four new medical centres

Assura Group Limited ("Assura"), the leading primary care property investor and developer is pleased to announce that it has completed the development of three medical centres in Lanchester, Market Weighton and Blaenavon and acquired a further medical centre in Wellington.

The three developments have a combined value of £11.0 million with a weighted average un-expired lease term of 24.5 years with rents contracted under the leases of £0.66 million¹. The combined yield on cost is 7.3%¹

In addition Assura has acquired a fully let, purpose built medical centre in Wellington on a new 30 year lease. The property was acquired for £1.75 million and has a rental yield of 6.3%.

Following the additions Assura now has 236 medical centres with a contracted rent roll of £49.5 million reflecting the rents from the four new premises net of two former surgeries now reclassified as non-core.

Graham Roberts, CEO of Assura, commented:

"The three developments and acquisition are each fully integrated facilities, incorporating a wide range of services to meet the needs of their respective local communities. This is in line with our strategy of adding high quality premises and strong income flow to our expanding portfolio."

¹ The GP lease at Market Weighton has a concessionary rent of £80k for first three years rising to minimum of £207k on third anniversary

and figures quoted include this reversion.

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For more information, please contact:

Assura Group Limited	Tel: [phone]
Graham Roberts Jonathan Murphy Carolyn Jones
Oriel Securities Limited	Tel: [phone]
Mark Young Roger Clarke
Liberum Capital Limited Peter Tracey Jamie Richards	Tel: [phone]
RLM Finsbury	Tel: [phone]
Gordon Simpson

Notes to Editors

Assura Group is a long-term investor in and developer of primary care property.  The company, headquartered in Warrington and listed on the London Stock Exchange, works with GPs, health professionals and the NHS to create innovative property solutions in order to facilitate delivery of high quality patient care in the community. 

Further information is available at www.assuragroup.co.uk 

 

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