Disposal

RNS Number : 4593Y

Assura Group Limited

03 September 2009

 



This announcement is not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, South Africa, Australia, Japan or any jurisdiction in which the same would be unlawful. This announcement is not an offer of securities in the UK, United States, Canada, South Africa, Australia, Japan or any jurisdiction in which the same would be unlawful.

03 September 2009

Assura Group Limited ('Assura' or the 'Company')

£5.7m sale of three non-core assets

The Company announces that it has exchanged contracts with Willowdale Investments Limited, Prime Oak Investments Limited and Carnell Investments Limited for the sale of three non-core properties from its medical property portfolio in Hampstead, Oxted and Denton. 

The aggregate sale price of £5.7m in cash is circa 5 per cent ahead of the most recently published valuation and will result in a profit on disposal of circa £260k over the book value of the assets.  In the year ended 31 March 2009, the three properties generated net annual rent of £390k.

Their disposal is in addition to the 6 properties disposed of in January 2009 and the 2 properties disposed of in June 2009, pursuant to the Company's objective to sell approximately 10 investment properties during 2009. Proceeds from the disposals will be used to fund current working capital requirements.

In addition, the Company has a further two investment properties for disposal in solicitors' hands with contracts due to exchange later this month.

The Company's most recently published adjusted diluted net asset value was 66.7p per Share.

ENQUIRIES:

Assura  Richard Burrell, Louise Bathersby		020 7107 3800
Investec Securities Tim Pratelli		020 7597 5153
Cenkos Securities Ian Soanes		020 7397 8921
Financial Dynamics Ben Atwell, Ben Brewerton		020 7831 3113

 

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