21st Aug 2014 08:01
LONDON (Alliance News) - Assura Group PLC Thursday said it has acquired the freehold of Leylands Medical Centre in Bradford, in a deal worth GBP2.6 million, while also contracting to forward purchase a medical development in Danbury, Essex.
The property in Bradford has been acquired from the general practitioners who originally developed the 960 square metre medical centre. The property benefits from a passing rent of GBP162,000 and is let to the GPs and Lloyds Pharmacy Ltd, each on new 25 year lease terms.
In addition, Assura said it has contracted to forward fund a new 1,200 square metre medical centre in Essex for GBP3.2 million including costs.
The development partner is a subsidiary of Ashley House PLC, and the building is due to be completed towards the end of 2015. The property benefits from an agreement for lease with GPs for 20 years, and was approved by the NHS prior to the changes to the primary care regime in April 2013.
Assura said following the transaction it now owns 234 medical centres with a further five developments under construction. The total rent roll is now GBP48.9 million a year.
Assura Group shares were quoted flat at 45.50 pence early Thursday.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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