Assura rallies on latest round of acquisitions

British property healthcare business Assura Plc (LON:AGR) announced on Friday that they had added a further £50 million of property acquisitions to their portfolio for the year.

Most notable among these acquisitions was the Stratford Health Centre in Stratford-Upon-Avon, one of the largest primary healthcare facilities in the UK. The centre stands at 6,000 square metres and set Assura back £30 million, taking their total acquisitions bill for the year to £158 million.

With this latest round of expenditure and expansion, the FTSE 250 listed firm’s rent roll now stands at £7.7 million, though it has not yet named the two other facilities purchased last week.

“We are delighted to have added three more high quality assets to our portfolio, as we continue to deploy capital to grow our rent roll,” chief executive Jonathan Murphy said.

“Stratford, which is now one of the largest properties in our portfolio, is a great example of a medical centre acting as a hub for the community, bringing together a range of services in a primary healthcare setting,”

The company hope to continue making acquisitions on this scale, and today their shares are trading up 1.29% or 0.7p at 55p a share. Analysts from Peel Hunt have retained their ‘Hold’ stance on Assura stock, while Liberum Capital analysts have reiterated their ‘Buy’ stance.

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Jamie Gordon
Senior Journalist at the UK Investor Magazine. Also a contributing writer at the Investment Observer, UK Property Journal and UK Startup Magazine. Postgraduate of King's College London with a specialisation in Business Ethics. Interested in Development Economics and David Hume.