21st Jul 2015 07:27
LONDON (Alliance News) - Primary care property investor and developer Assura PLC on Tuesday said it has made good progress in the first quarter of its financial year, growing its rent roll on the back of a series of acquisitions made in the period.
Assura said it has completed the acquisition of 33 medical centres since the start of its current financial year in April, spending a total of GBP52.9 million.
The group's annualised rent roll is now at GBP58.9 million, up from GBP55.6 million at the start of the year, with the growth primarily driven by the acquisitions it has made.
"This has been another period of intense activity for Assura as we continue to build scale in primary care property, which will continue to drive our progressive dividend policy. Importantly, we see opportunities to drive further profitable growth ahead. There are also encouraging signs that the approval of primary care developments is at last receiving priority," said Graham Roberts, Assura's chief executive.
"Whilst there is a lead time between initiation and completion, we look forward to seeing developments return as a significant contributor to growth in the future, which will provide additional returns to our shareholders over time," Roberts added.
Shares in Assura were down 0.4% to 55.00 pence in early trade on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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