Assura has reported strong full year results in which net asset value (NAV) increased 1.1%.
The company, which owns a portfolio of 576 GP surgeries and medical centres, posted a diluted EPRA NAV per share of 53.9p.
The group’s portfolio jumped in value by 8.1% in the year to £2.14bn due to acquisitions. On a like-for-like basis the portfolio valuation was slightly up by 0.9%.
Rent was up 6% to £108.9m, with EPRA earnings also up 6% to £67.5m. EPRA earnings per share grew 4% to 2.8p.
The company declared a dividend for the year of 2.75p, up 3.8% on 2019.
During the year Assura acquired 28 properties for £119m and sold 19 for £20.1m. It also conducted 32 lease re-gears during the year in respect of £2.9m of rent roll.
Last month, Assura raised £185m in a share issue and said it will renew its focus on development and asset management initiatives going forward. It has an immediate development pipeline totalling £77m, an acquisition pipeline of £67m in lawyers hands and asset enhancement projects worth £17m.
It also has an extended pipeline of development opportunities worth £199m.
Assura’s portfolio of doctor’s surgeries and health centres are let to the NHS ensuring it has been resilient in the face of the covid-19 pandemic.
Jonathan Murphy, chief executive, said: “With the outbreak of covid-19, the importance of the NHS to our society has never been more apparent. Assura has worked closely with the NHS and our GP partners since the onset of the crisis, to make sure we can best support the health service while also focusing on the safety and wellbeing of our colleagues, occupiers and their patients.”
AGR : Assura post strong full year results