Rent reviews boost Assura’s revenues
HEALTHCARE property firm Assura Group said that it had enjoyed a “strong start” to its new financial year on April 1, largely as a result of a series of rent reviews which have increased its revenues.
A trading statement issued by the board of the Warrington-based firm this morning said that group revenues were up by 17% on the same period as last year. It has completed 13 rent reviews, which, on an annualised basis, has led to an increase in rental income of around 5% (around £122,000).
The company also announced that it had agreed a new £10m, five-year loan deal with banker Santander at a fixed rate of 3.95%. It had already refinanced 16 of its medical centres via a £30m deal with Santander back in March this year.
Assura said that of the six new developments on which it was onsite at the beginning of April, two have already completed and the other four are progressing. It is also due to start on site at another scheme next month.
The company’s pharmacy division also performed well, with first-quarter reveneues ahead of budget at both its wholly-owned pharmacy buildings and its joint venture sites.
“Like-for-like prescription item numbers were up 10 per cent compared with the same period last year,” it said.
A new pharmacy opened at Chesterfield Health Centre earlier this month and the firm reached financial close on two LIFT schemes in central Coventry and at Childwall in Liverpool with a combined value of £35m.
The company said that it was seeing “increased levels of interest” in its Health Planning services, which advises Primary Care Trusts on their service provision.
