Property firm splashes out £50m on three new acquisitions

Property firm Assura has announced the completion of a further three acquisitions for a combined consideration of £50m.

The acquisitions takes the year to date spend by the Warrington firm on new properties to £158m.

The additions include 42 medical centres – including two developments – with a passing rent roll of £7.7m and a weighted average unexpired lease term of 14.2 years.

 The acquisitions include Stratford Healthcare Centre in Stratford-upon-Avon, which was acquired by way of a corporate transaction for a property value of £30m.

The centre is one of the largest primary healthcare facilities in the UK at almost 6,000 square metres and is a central hub for the provision of local healthcare services. 

Alongside the GP surgery, it accommodates a renal unit, pharmacy, dentist, physiotherapy centre, rehabilitation centre, mental and sexual health services, and a café.

Of the rent, 88% represents a GP or NHS tenant and 71% is index linked.

Jonathan Murphy, chief executive, said: “We are delighted to have added three more high quality assets to our portfolio, as we continue to deploy capital to grow our rent roll.

“Stratford, which is now one of the largest properties in our portfolio, is a great example of a medical centre acting as a hub for the community, bringing together a range of services in a primary healthcare setting.”