Assura Regulatory News (AGR)

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 £141.3 million

· 17 property additions (five development completions and 12 acquisitions); total cost of £110 million

· Two developments moved onto site taking total to 14; total cost of £150 million (March 2022: 17, £166 million)

· Five lease regears completed in the period (£0.4 million of existing rent)

· Completed three capital asset enhancement projects (total spend £1.2 million) and currently on site with a further five (total spend £6.8 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 £154 million (March 2022: 20, £158 million). We continue to experience some delays to construction timetables and start dates.

· Immediate acquisitions pipeline stands at £47 million, which we would normally expect to complete in 3-6 months (March 2022: £119 million)

· 39 lease re-gears covering £5.8 million of existing rent roll in the current pipeline

· Pipeline of 19 capital asset enhancement projects (projected spend £11.5 million) over the next 2 years

Strong and sustainable financial position

· At 30 June 2022 net debt stood at £1,109 million with cash and undrawn facilities of £266 million

· All drawn facilities are unsecured with fixed interest (weighted average interest rate of 2.3%) and weighted average maturity 7.7 years

- ENDS -

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 £2,752 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.