City Briefs: Assura Group, Sirius Minerals, Pace
ASSURA GROUP, the primary care property investor and developer, has announced two acquisitions at Wetherby and Trellech, south Wales.
The deals, which have a total cost of £3.5m, have a combined rent roll of £210,000.
The Wetherby purchase has an unexpired lease term of 24.6 years, with Trellech having 17.5 years, and they have a combined yield of 6%.
Assura, which owns 254 medical centres and has a contracted rent roll of £54.9m, also confirmed that development has begun on its £4.8m investment in the Ashby de la Zouch Medical Centre in Leicestershire.
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SIRIUS MINERALS has announced its first take-or-pay offtake agreement in the animal feed mineral supplement market as it continues to progress plans for its York Potash Project.
An unnamed distributor of high quality mineral animal feed ingredients in North America has signed a seven-year agreement to take 50,000 tonnes per annum and could increase by a further 25,000
The volume commitment in the agreement is structured on a schedule to coincide with production from the site and will rise to 50,000 tonnes from year three.
Testing results have confirmed the product’s viability as a mineral feed additive where the nutrients contained in POLY4, which is the product name for polyhalite from the company’s proposed York Potash Project, provide essential minerals which promote optimal animal health and livestock production performance.
The Whitby site has the world’s largest and highest grade deposit of polyhalite, a multi-nutrient form of potash containing potassium, sulphur, magnesium and calcium.
Chris Fraser, managing director and chief executive of Sirius, said: “We are continuing to make great progress in allocating our expected production from the York Potash Project and it is particularly exciting to sign our maiden animal feed offtake contract to confirm new market opportunities for POLY4.”
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SET-TOP box maker and pay TV and broadband technology provider Pace has welcomed its new chief financial officer Mark Shuttleworth to the company.
Mr Shuttleworth, formerly CFO of Emirates Integrated Telecommunication Company PJSC, has also joined the board of directors at the Saltaire-based business.
Pace chief executive Mike Pulli said: “I am delighted that Mark has now joined the board and executive team at Pace and look forward to working with him to help Pace achieve even greater success”.
