Profits increase by 17% at property firm

Property firm Assura saw profits before tax increase by 17% to £84m last year.

Jonathan Murphy, chief executive of the Warrington based firm, said he was pleased with the firm’s performance over the last 12 months.

He said: “Assura has delivered another year of strong operational performance with robust revenue and rental growth.

“This has been driven by our development and investment teams’ focus on growing and enhancing our portfolio and active asset management.

“We are well positioned in the primary care property market and our development pipeline is the strongest it has been in 10 years.

“Our expertise in this field will be further strengthened by today’s announcement of the acquisition of the primary care developer GPI which enhances our development pipeline by an initial £92 million.

“As the government continues to approve healthcare schemes, we look forward to maintaining our deep relationships with the NHS.

“This is built on our strong links with healthcare trusts and ability to provide high-quality primary care facilities that benefit patients and reduce pressure on the NHS.”

The portfolio value of the firm was up 14% to £1,979m driven by both acquisitions and new developments .

The development and investment team successfully secured £240m of property additions in the year.

And the company which specialises in developing health centres is expecting further growth.