14th Feb 2014 08:38
LONDON (Alliance News) - Healthcare property investors Assura Group PLC Friday said annualised rent roll has increased to GBP41.7 million, from GBP40.7 million at the end of September, following a number of rent reviews and the addition of completed developments.
In an interim management statement for the period October 1, 2013 to date, the firm said the weighted average annual rent increase was 2.2% on the basis of 26 reviews bringing the financial year to date increase to 2.5% on the basis of 81 rent reviews settled.
The company sold a total of 7 LIFT schemes for GBP22.4 million, representing an uplift over the September book value of GBP10.5 million after costs.
LIFT refers to the Local Improvement Finance Trust, which was established in 2001 as a means of improving primary health and social care in the UK.
The sale of the LIFT schemes also adds about 2 pence to Assura's net asset value per share. The company's net asset value per share was 40.2 pence at September 30, 2013.
Assura said progress has been made on a number of sites with development at Lanchester, Sudbury, Market Weighton, Blaenavon and Silsden currently in motion. On completion, these sites should have a total value of GBP23.1 million.
Assura shares were up 0.6% at 41.25 pence Friday morning.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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