Assura makes solid start with rents stable

(Sharecast News) - Healthcare property investor Assura said it delivered on its strategic objectives in its first quarter, with rents stable over the three months to 30 June.

The company's portfolio of 612 properties across the UK generated an annualised rent roll of £149.2m, marginally below the £150.6m reported at the end of March.

Three developments were completed during the period, requiring a combined spend of £46m, while Assura is currently on site with five developments at a total cost of £46m.

"Over the first three months of our financial year we have continued to deliver on our strategic objectives, and remain extremely well-placed to help support the NHS and wider healthcare market," said chief executive Jonathan Murphy.

"The UK healthcare crisis is getting more severe by the year, which in turn is driving increased demand for healthcare infrastructure. The requirement for investment in this space has received cross-party political support, and we look forward to working with whichever party is in Government following today's election."

The company announced in May that it had entered into a £250m joint venture with private pension scheme USS, which it said provides "further diversity of funding for future growth".