Healthcare property firm to pay dividend after active fourth quarter

Assura head office

Healthcare property firm Assura saw an active fourth quarter despite the current crisis.

The Warrington based firm issued a trading statement this week.

Chief executive Jonathan Murphy said: “Assura is working closely with the NHS and our GP partners to make sure we can best support the health service through the Covid-19 crisis.

“We are also assisting occupiers to optimise the use of space in their buildings and offering vacant space to the NHS where we can. We are continuing to follow closely the latest advice of the Government and Public Health England, working with the contractors for our on-site developments.

“Looking at the quarter as a whole, Assura continued to make good operational progress, in particular around our acquisition and development opportunities, as we seek to deliver primary care assets that cater to the needs of the NHS now and for the future.”

The firm said March quarter rents are being received in line with normal patterns.

A dividend of 0.697 pence will be paid on 15 April 2020 as previously announced.

The firm said it saw an active fourth quarter.

A development at Knebworth completed and three schemes progressed to on-site.

There were 13 acquisitions completed for combined £54 million, including £41 million in March.

One disposal completed for £800,00 and contracts exchanged for the disposal of 20 properties for total consideration of £17 million; expected to complete in the next few weeks.

The firm’s portfolio expanded to 576 properties with current annualised rent roll of £108.9m.

Four developments completed in the year at a total cost of £14.8m

Acquisitions for the year total 28 for a consideration of £119m.

As at 31 March 2020 gross debt stood at £847 million with undrawn facilities of £220 million.