Assura 'well positioned' to meet demand

Warrington-based property business Assura said on Wednesday that the first half of the year to 30 September was "another period of good progress" and that it remains well-placed to meet the UK's demand for "quality" primary care and community health buildings as a partner of choice for the NHS.

The company said its portfolio currently stands at 603 properties, with an annualised rent roll of £139.3m. It has invested £141m on additions during the half, at an average yield on cost of 5.0%, it said.

Assura also completed the disposal of a portfolio of 61 properties for £73m, at a small premium to book value.

Chief executive Jonathan Murphy said: "Our financial position remains very strong. Our debt book is fixed at an average interest rate of 2.3% with a long-term average maturity of 7.5 years, and we have cash and committed undrawn facilities totalling £284m.

"Together with the strength of our portfolio and expertise of our teams, we are well placed to take advantage of the opportunities ahead. That said, we recognise the current macro-economic uncertainty and industry-wide inflationary pressure and will continue to monitor and take a cautious approach to capital investment to ensure long-term success."