Assura PLC Trading Update (4236R)
July 06 2022 - 2:00AM
UK Regulatory
TIDMAGR
RNS Number : 4236R
Assura PLC
06 July 2022
6 July 2022
Assura plc
Trading Update
For the first quarter ending 30 June 2022
Assura plc ("Assura"), the leading primary care property
investor and developer, today announces its Trading Update for the
first quarter to 30 June 2022.
Jonathan Murphy, CEO, said:
"Assura has delivered another strong first quarter, progressing
our acquisition and development pipelines in completing 17
additions to the portfolio.
"We have moved on site with a further two development schemes,
including our first live net zero carbon project in Fareham, and so
currently have 14 live schemes.
"We are seeing increased opportunity to work with the NHS in
providing the crucial primary care infrastructure that the country
so badly needs, but we will maintain a disciplined approach to the
deployment of capital as we do so."
Strong track record of disciplined investment activity continues
through first quarter
-- Portfolio currently stands at 662 properties with annualised rent roll of GBP141.3 million
-- 17 property additions (five development completions and 12
acquisitions); total cost of GBP110 million
-- Two developments moved onto site taking total to 14; total
cost of GBP150 million (March 2022: 17, GBP166 million)
-- Five lease regears completed in the period (GBP0.4 million of existing rent)
-- Completed three capital asset enhancement projects (total
spend GBP1.2 million) and currently on site with a further five
(total spend GBP6.8 million)
Developments and acquisition pipelines provide significant
growth opportunities
-- Immediate development pipeline of 18 schemes, where we expect
to be on site within 12 months, totalling a further GBP154 million
(March 2022: 20, GBP158 million). We continue to experience some
delays to construction timetables and start dates.
-- Immediate acquisitions pipeline stands at GBP47 million,
which we would normally expect to complete in 3-6 months (March
2022: GBP119 million)
-- 39 lease re-gears covering GBP5.8 million of existing rent roll in the current pipeline
-- Pipeline of 19 capital asset enhancement projects (projected
spend GBP11.5 million) over the next 2 years
Strong and sustainable financial position
-- At 30 June 2022 net debt stood at GBP1,109 million with cash
and undrawn facilities of GBP266 million
-- All drawn facilities are unsecured with fixed interest
(weighted average interest rate of 2.3%) and weighted average
maturity 7.7 years
- ENDS -
Assura plc Tel: 01925 945354
Jayne Cottam, CFO E mail: Investor@assura.co.uk
David Purcell, Investor Relations
Director
FGS Global Tel: 0207 251 3801
Gordon Simpson Email: Assura@fgsglobal.com
James Thompson
Notes to Editors
Assura plc is a national healthcare premises specialist and UK
REIT based in Warrington, UK - caring for more than 600 primary
healthcare buildings, from which almost seven million patients are
served.
A constituent of the FTSE 250 and the EPRA* indices, as at 31
March 2022, Assura's portfolio was valued at GBP2,752 million.
At Assura, we BUILD for health. Assura builds better spaces for
people and places, invests in skills and inspires new ways of
working, and unlocks the power of design and innovation to deliver
lasting impact for communities - aiming for six million people to
have benefitted from improvements to and through its healthcare
buildings by 2026.
Assura is leading for a sustainable future, targeting net zero
carbon across its portfolio by 2040.
Further information is available at www.assuraplc.com
Assura plc LEI code: 21380026T19N2Y52XF72
*EPRA is a registered trademark of the European Public Real
Estate Association.
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END
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