Property investment firm makes strong start to year
Property investment firm Assura say the firm has continued to make strong progress since the start of the year.
The Warrington firm which specialises in health centres and clinics published a trading this morning.
Chief executive Jonathan Murphy said: “Assura has had a very active first six months of the reporting year as we continue to build on our strong progress.
“The acquisition of GPI, announced in May this year, has been integrated into Assura successfully, and further strengthens our market-leading position, putting us in a better place to provide GPs with the real estate that they need to help alleviate the stresses in the NHS.
“We remain confident in our outlook for the year and look forward to sharing a fuller update at our interim results in November.”
The firm has a current portfolio of 560 properties.
Two developments completed (Darley Dale & South Woodham Ferrers) at a cost of £8.4m and five moved to on site (Canterbury, St Leonards, Hereford, Launceston and Bournville); total of 14 developments on site at the period end with a total development cost of £69m.
Nine acquisitions were completed in the period at a cost of £34.m.
Fourteen disposals completed for £18m cash consideration at a small premium to book value at March 2019.
There is an immediate development pipeline of £72m and an immediate acquisitions pipeline of £65m, compared with £4m at March 2019
As at 30 September 2019 gross debt stood at £757m with undrawn facilities of £250m.
Results for the six months ended 30 September 2019 will be announced on 12 November 2019.