Assura strengthened by GPI acquisition

Specialist healthcare REIT Assura plc said today that its acquisition of GPI earlier this year has significantly strengthened its position in the primary care property market.

In a Trading Update issued ahead of its interim results announcement in November, the company said it had a total immediate pipeline, including on-site developments, of £206m compared to £142m at the year-end.

The £92m acquisition of GPI has boosted Assura’s portfolio and provided it with the strongest development pipeline in its history. Its portfolio currently stands at 560 properties but it had 14 developments on site at the end of the first half with a total development cost of £69m. It also made nine acquisitions at a cost of £34.3m and completed 14 disposals for £18m during the period.

Assura CEO Jonathan Murphy CEO said: Assura has had a very active first six months of the reporting year as we continue to build on our strong progress.  The acquisition of GPI, announced in May this year, has been integrated into Assura successfully, and further strengthens our market-leading position, putting us in a better place to provide GPs with the real estate that they need to help alleviate the stresses in the NHS. 

‘We remain confident in our outlook for the year and look forward to sharing a fuller update at our interim results in November.’