Forward funding and acquisition update

RNS Number : 8393B

Assura Group Limited

12 January 2015

 



12 January 2015

Assura Group Limited

Forward funding and acquisition update

Assura Group Limited, the UK's leading primary care property investor and developer, today confirms that development has commenced at the Ashby de la Zouch Medical Centre. This is contracted via a forward purchase and funding agreement with the vendors of Metro and will provide a 1,760m² modern community health centre. The £4.8 million investment is due to be completed by January 2016.

The property will house two occupiers, a GP practice and pharmacy. The tenants have signed Agreements for Lease for 25 years from completion.

This is the second of the four further schemes, as announced on 6 November and follows completion of the Kidderminster agreement on 3 December 2014.

Additionally Assura can announce two further acquisitions at Trellech and Wetherby. The two properties have been acquired for a total cost of £3.5 million with a combined rent roll of £0.21 million. The remaining unexpired lease terms are 17.5 years and 24.6 years respectively with a combined yield of 6%.

Assura owns 254 medical centres and has a contracted rent roll of £54.9 million.

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For more information, please contact:

Assura Group Limited	Tel: [phone]
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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