Assura feeling assured after first half of acquisitions

Assura, the healthcare property developer, said there was "good momentum" in the business as it bought 39 medical centres and completed two developments in the six months to 30 September

The FTSE 250 group spent a total of £108.2m in the first half of its financial year on primary health properties with a weighted average unexpired lease length of 13.3 years.

With the new additions' passing rent of £5.5m, Assura now owns 556 medical centres with a total annualised rent roll of £96.9m.

Looking forward, Assura said it had a £107m pipeline of acquisitions and another £82m of developments, with its balance sheet boosted by July's £300m senior unsecured bond placement at a fixed annual interest rate of 3%.

Chief executive Jonathan Murphy hailed the assigning of an A- credit rating Fitch and said: "We have good momentum in the business, with a strong pipeline of opportunities. We remain confident in the outlook for the business"