Acquisition and funding agreement

RNS Number : 6702P

Assura Group Limited

21 August 2014

 



21 August 2014

Assura Group Limited

Acquisition and funding agreement for two primary care centres

Assura Group Limited ("Assura"), the leading primary care property investor and developer is pleased to announce that it has acquired the freehold of Leylands Medical Centre, Bradford and contracted to forward purchase a medical centre development in Danbury, Essex.

The property in Bradford has been acquired from the GPs who originally developed the 960 sq. metre medical centre, for £2.6 million. The property benefits from a passing rent of £162,000 and is let to the GP partners and Lloyds Pharmacy Limited, each on new 25 year lease terms.

In addition Assura has contracted to forward fund a new 1,200 sq. metre medical centre in Danbury, Essex for £3.2 million including costs. The development partner is a subsidiary of Ashley House plc and the building is due to complete towards the end of 2015. The property benefits from an agreement for lease with the GPs for 20 years, and was approved by the NHS prior to the changes to the primary care regime in April 2013.

Following the transactions Assura now owns 234 medical centres with a further five developments under construction. The total rent roll is now £48.9 million per annum. On completion of the five developments in progress this will increase by a further £1.4 million to £50.3 million.

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For more information, please contact:

Assura Group Limited	Tel: [phone]
Graham Roberts Carolyn Jones
Oriel Securities Limited	Tel: [phone]
Mark Young Roger Clarke
Liberum Capital Limited Peter Tracey Jamie Richards	Tel: [phone]
RLM Finsbury	Tel: [phone]
Gordon Simpson

Notes to Editors

Assura Group is a long-term investor in and developer of primary care property.  The company, headquartered in Warrington and listed on the London Stock Exchange, works with GPs, health professionals and the NHS to create innovative property solutions in order to facilitate delivery of high quality patient care in the community.  At 31 March 2014, Assura Group's property portfolio was valued at £668m.

Further information is available at www.assuragroup.co.uk 

 

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