Assura reports strong growth as approval process gains traction

Assura has reported continued growth in Q3 following completion of the acquisition of eight medical centres for a combined total of £67m.

The company said its cumulative investment in the year-to-date stood as £175m, and reported a strong pipeline of acquisition opportunities and developments, with £86m on site and a further £84m in legal hands.

Continued improvement in the approval process for developments has helped boost the primary care REIT, which currently has five schemes on site. It said the focus on primary and community healthcare in the new NHS Long-Term Plan, published earlier this month, demonstrates that they remain at the core of government health policy.

In addition, it said a national ‘call for solutions’ to a range of challenges for GP premises is due to report this year, which is likely to highlight the ongoing difficulties faced by practices without the space, layout or facilities they need to best serve their patients.

CEO Jonathan Murphy said:We are pleased to provide another positive trading update on our business, with £67m of additions to the portfolio in the last three months helping grow our rent roll to £99.8m. Meanwhile we continue to replenish our pipeline of acquisitions and developments which currently stands at £170m.’