Primary care property investor and developer Assura has provided a ‘business as usual’ trading update for the quarter to the end of June.
The group said June quarter rents from its 565 properties are being received in line with normal patterns, while development activity is back up and running.
Developments at Stafford and Netherfield completed in the quarter at a combined cost of £11.9m, while five schemes progressed to on-site.
Assura made seven acquisitions in the period for a combined £35m and disposed of 20 assets for £17m.
It completed two lease regears amounting to £0.3m of existing rent. It also completed a capital asset enhancement project and is on site at a further three (combined spend £0.6m).
Pipeline
The group is currently on-site with 18 developments, with a total cost of £95m. Its immediate development pipeline (schemes which it expects to be on site within 12 months) totals £60m, while its immediate acquisitions pipeline (which it would expect to complete in three to six months) stands at £51m.
There are 45 lease re-gears covering £5.6m of existing rent roll in the current pipeline, as well as 21 capital asset enhancement projects (projected spend £15m) over the next two years.
AGR : Business as usual for Assura