Assura in £12.3m medical centre deal

WARRINGTON-based healthcare landlord Assura has spent £12.3m on a medical centre in Middlesbrough.

The group has acquired Park Medical which owns the 35,000 sq ft One Life Building.

Assura said the building had a passing rent of £800,000 which equates to a yield of 6.5%. It paid £2.7m for the business and took on £8.7m of debt. A further cost of £900,000 is associated with repricing the debt.

Following the deal Assura has 233 medical centres and has a contracted rent roll of £48.9m.

Chief executive Graham Roberts said: “The One Life Building, with the wide range of medical services it offers, is a prime example of the type of space that is needed to meet the increasing role that primary care is playing in the NHS. As such, it is in line with our strategy of adding high quality premises and income to our growing portfolio.”

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