Acquisition of three medical centres for ?11.5m

RNS Number : 8058Z

Assura Group Limited

15 December 2014

 



16 December 2014

Assura Group Limited

Acquisition of three medical centres for £11.5m

Assura Group Limited ("Assura"), the leading primary care property investor and developer is pleased to announce that it has acquired three primary care medical centres in Dronfield, Lambeth and Taunton for £11.5 million adding £0.68 million to the current rent roll.

Assura has acquired the Dronfield Medical Centre, Derbyshire.  The property is leased to a GP practice, Derbyshire CCG and a pharmacy. The asset has been acquired for £3.75 million with passing rent of £0.21 million, which equates to a yield of 5.6%. The property is let on full repairing and insuring leases with a weighted average of 17.5 years remaining.

Assura has purchased the Elmcourt Health Centre in Lambeth comprising a GP practice, a pharmacy and community space leased to the NHS. The leases have a weighted average of 14.5 years remaining and have a combined rent roll of £0.36 million. The property has been bought for £6.0 million producing a yield of 6.0%.

Finally, Assura has also acquired a medical centre in Taunton, Somerset for £1.75 million which has a passing rent of £0.11 million equating to yield of 6.3%. The property houses a GP surgery and has 12.5 years remaining on the lease.

Following the transactions Assura now owns 250 medical centres and has a contracted rent roll of £53.6 million.

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For more information, please contact:

Assura Group Limited	Tel: [phone]
Graham Roberts Jonathan Murphy Carolyn Jones
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 30 September 2014, Assura Group's property portfolio was valued at £809m.

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

 

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