Assura Group Limited Acquisition of three medical centres for £11.5m (8058Z)

TIDMAGR

RNS Number : 8058Z

Assura Group Limited

15 December 2014

16 December 2014

Assura Group Limited

Acquisition of three medical centres for GBP11.5m

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 GBP11.5 million adding GBP0.68 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 GBP3.75 million with passing rent of GBP0.21 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 GBP0.36 million. The property has been bought for GBP6.0 million producing a yield of 6.0%.

Finally, Assura has also acquired a medical centre in Taunton, Somerset for GBP1.75 million which has a passing rent of GBP0.11 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 GBP53.6 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 GBP809m.

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

This information is provided by RNS

The company news service from the London Stock Exchange

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