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(Alliance News) - Assura PLC on Monday said it has delivered another strong financial performance in the half-year ended September 30 and said it refinanced its revolving credit facility.
The Altrincham, England-based primary care property investor and developer said its portfolio currently consists of 612 properties with an annualised rent roll of GBP146.9 million, compared with 603 properties and an annualised rent roll of GBP139.3 million during the same period a year ago.
In the half-year, Assura said it has continued to focus on areas of "strategic expansion" to unlock value through several portfolio additions. This includes the completion of day case hospital in Kettering, England for Ramsay Healthcare and moving on site with an ambulance hub for the local National Health Service Trust in Bury St Edmunds, Assura said.
The property firm also said it settled 152 rent reviews and generated an uplift of GBP1.5 million during in the half-year.
Chief Executive Officer Jonathan Murphy said: "We continue to see growing and consistent demand for high-quality healthcare buildings in a community setting. Our leading market position, strong and sustainable balance sheet and pipeline of growth opportunities will allow us to continue to deliver against our proven strategy."
Assura also announced on Monday it refinanced its RCF to GBP200 million from GBP125 million, and it will mature in October 2026, with the option for it to be extended by two years.
The RCF is provided by lenders Barclays Bank PLC, HSBC UK Bank PLC, National Westminster Bank PLC and Santander UK PLC.
Chief Financial Officer Jayne Cottam commented: "We are delighted to have increased our RCF to GBP200 million, extending the long-term relationship we have with our lenders. As well as improving the terms, reflecting the strength of our business, this agreement locks in flexible financing for our future activities."
Shares in Assura were up 0.2% at 41.98 pence each in London on Monday morning.
By Sabrina Penty, Alliance News reporter
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