Assura makes 'strong' progress in Q3

13th Jan 2020 09:00

(Sharecast News) - Primary care property investor Assura told investors on Monday that it had continued to make "strong progress" during the third quarter.
Assura, which grew its portfolio to 563 properties during the three months ended 31 December, completed development work at Stow-on-the-Wold during the period and remained on-site with 13 developments with a total development cost of £66m.

Six acquisitions were completed at a cost of £31.1m, while four disposals were made for cash proceeds of £1m.

Assura's total immediate pipeline, including on-site developments, increased to £252m from £206m, while the group's annualised rent roll came in at £105.8m, taking account of additions, disposals and rent reviews.

Chief executive Jonathan Murphy said: "We expanded our market-leading portfolio with the acquisition of six high-quality assets and completed our third development of the year in Stow-on-the-Wold.

"We also grew our immediate pipeline of acquisition and development opportunities, reinforcing what was already our strongest in 10 years, to £252m including 13 developments currently on site."

At 0900 GMT, Assura shares were up 0.27% at 75.60p.