Assura (AGR) has announced that it has completed the acquisition of primary care developer Apollo Capital Projects Development Limited (Apollo). AGR says that Apollo has a strong, 20-year track record of developing high-quality primary care properties across the UK, with a very experienced four-person development team. As well as expanding the Assura development team to 11 specialist surveyors, AGR says that the acquisition will increase its immediate and extended development pipeline by an initial eight schemes with an estimated total capital expenditure of £50 million. Furthermore, AGR’s current live development scheme at Beaconsfield will be converted from a forward-fund to an in-house development.
Comments from Jonathan Murphy, CEO of Assura
“The acquisition of Apollo will further enhance our sector-leading in-house development capabilities and substantially expand our pipeline, which is already the largest in our history.
“Following our acquisition of primary care developer GPI in 2019, this is another important step in our growth story that further deepens our understanding of the future trends shaping the sector, from building design to sustainability.
“Expanding our offer to the NHS as its partner of choice has never been more vital than it is today. As Apollo’s colleagues integrate into Assura, we look forward to working together to continue creating outstanding spaces for health services in our communities.”