4th Feb 2015 08:45
LONDON (Alliance News) - Healthcare property investor and developer Assura PLC said Wednesday that it has acquired 20 properties for a total of GBP97.5 million since it raised GBP175 million last October.
This helped boost its annualised rent roll to GBP55.2 million, compared to GBP49.0 million last September.
The largest of these acquisitions was eleven medical centres acquired with Metro MRI Ltd for GBP63.1 million, which it satisfied via GBP9.1 million in cash and the issue of 18.8 million shares at 50 pence each. It also agreed to fund the development of four further centres by the vendors of Metro. It expects these to have a value on completion of around GBP21 million.
It then bought up a further nine centres for GBP34.4 million, which it said added GBP1.9 million to its rent roll.
The company said it has a pipeline of acquisitions and developments of GBP33 million, and further development opportunities with a value of over GBP50 million.
Assura said that under investment in primary care infrastructure is widely recognised, but there is clear indications that the UK national health service is looking to address this.
"There has been a renewed emphasis from the NHS and politicians recently on addressing the chronic shortage of primary care space in the UK, and as Assura grows it is well placed to provide the infrastructure that is so necessary," said Chief Executive Graham Roberts in a statement.
Shares in Assura are trading up 0.7% at 54.63 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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