1st Oct 2018 08:49
LONDON (Alliance News) - Assura PLC said Monday it "continued to grow" in the first half by completing acquisition of 39 medical centres and two developments, giving the company confidence in its outlook.
The FTSE 250-listed company said the acquisitions cost a total of GBP108.2 million with a combined passing rent of GBP5.5 million and a weighted average unexpired lease length of 13.3 years.
The General Practitioner and primary care building developer now owns 556 medical centres with a total annualised rent roll of GBP96.9 million, up from GBP91.0 million at the end of March.
At the end of the half, September 30, Assura's gross borrowings stood at GBP660 million with a weighted average cost of debt of 3.28% and a weighted average debt maturity of 8 years.
Assura said it has continued to "replenish" its pipeline of acquisitions and developments, which currently stand at GBP107 million and GBP82 million, respectively.
The company also said it has committed undrawn facilities of GBP300 million with which to fund its pipeline of acquisitions and developments.
Assura will announce its results for the half year ended September November 22.
Chief Executive Officer Jonathan Murphy said: "We have good momentum in the business, with a strong pipeline of opportunities. We remain confident in the outlook for the business."
Shares in Assura were up 0.2% Monday at 54.20 pence each.
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