We are a listed UK real estate investment trust (“REIT”) specialising in the development of, investment in and management of a portfolio of healthcare buildings across the UK and Ireland.
Our purpose is that we BUILD for health. We aim to be the UK’s number one listed property business for long-term social impact and sustainability.
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DevelopmentOur team of development directors work with existing and prospective customers to design and deliver bespoke new healthcare buildings that meet the evolving needs of the communities they serve. The customers and patients benefit from our strong relationships with our expert healthcare partners, who we work with to incorporate the latest sustainability and design innovations, in line with our Net Zero Carbon Design Guide, targeting net zero carbon development – both for carbon in operation and carbon embodied through construction. A development only moves on site when everyone is agreed that the project is the highest quality and value for money; the rent is agreed, the customers sign an agreement for lease and our third-party building contractor partners sign fixed price contracts. Following the 14–20 month build period, we get a long, secure income stream at a return on cost and development margin that reflects the relatively low development risk we take on, and a building that showcases our ability to deliver sustainable solutions that benefit all stakeholders. |
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InvestmentOur investment team identify opportunities to add existing buildings to our portfolio, whether through a competitive bidding process or an off-market opportunity benefitting from our long-standing reputation as a landlord that owns and operates buildings as a long-term partner to our customers. Our knowledge of the sector, bespoke database covering all primary healthcare properties in the country, our reputation as a landlord seeking a positive social impact and our long-standing relationships give us strong credentials when sourcing opportunities and speaking to prospective customers, who are often the same people that are selling their building. The investment process considers numerous criteria including the quality of the building, environmental impact and physical climate change risk, asset enhancement opportunities and returns. If a potential opportunity doesn’t meet our environmental standards, then the price is adjusted accordingly for the cost of making the required improvements. The key factor for every investment is the importance of the building to its local health economy – i.e. is this building the right solution for that community in the long term. |
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Managing our portfolioOur property management team looks after the needs of the customers in our existing buildings. This covers a range of offerings: lease renewals, extensions or refurbishments, improving environmental performance, managing building costs or simply sharing their experience with a customer that wants assistance fixing a problem. Enhancing the building through extension or refurbishment benefits our customers and their patients through higher quality buildings. This allows more services to be delivered, reduces the environmental impact and lowers running costs for occupiers through energy efficient upgrades and provides our investors with a value-enhancing lease regear. The portfolio management team also liaise with the District Valuer in settling rent reviews, making sure the rents on our leases are at the latest open market rates. |
Our unique offeringWe are unique in offering our customers (GPs, the NHS, the HSE, and other healthcare providers) a |
Our reputation for being innovative, sector expertsWe have a responsibility not just to meet current NHS specifications for buildings, but also to ensure We have a highly knowledgeable and experienced in-house team of surveyors and external expert partners in architecture, sustainability and construction. Our team across development, investment, management and external experts work closely with each other and our customers. |
Our secure, stable occupier baseWe have a secure, long-term rental income stream from our stable customer base. Our typical leases are 21+ years in length, giving us strong visibility of future income. |
Our carefully managed balance sheetThe continued support of our shareholders and lenders is crucial to funding future growth in our portfolio. We generally borrow on an unsecured basis (which we believe gives us access to a larger range of funding options) with a loan-to-value policy that allows us to reach the range 40–50% should the need arise. As we grow, so the benefits of scale will accrue to shareholders and drive our progressive dividend policy. |
Our commitment to long-term social and environmental impactOur goal is to become the number one listed property business for long-term social impact and sustainability and to have a net zero carbon portfolio by 2040. |
Our customersOur healthcare customers get spaces at the forefront of the sector in terms of design, innovation and environmental performance that allow them to provide the services needed by the communities that they serve.
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Our investors and lendersOur financial supporters, both equity and debt, get a fair financial return derived from rental income from investment in essential health infrastructure.
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Our communitiesThe communities that use our spaces get a building that meets the bespoke health needs of that local health economy.
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Our suppliersOur supplier partners benefit from a collaborative approach to finding innovative solutions to meet the needs of our customers. £103m paid during the year to suppliers |
Our peopleAssura employees work in a friendly, engaging environment that supports aspirations to develop their skills and opportunities.
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Our EnvironmentWe deliver new premises which limit their impact on the environment, and upgrade the energy efficiency of existing buildings. 25 energy efficient building upgrades delivered in this year. |
Our strategic priorities drive the behaviours of our team to support our business model, ensuring everything we do is tailored toward creating value for our shareholders and stakeholders. Our five key priorities are:
- Leveraging our financial strength to invest in our portfolio, making each £ invested work harder aiming to generate secure, growing returns for investors.
- Quality of buildings delivering the outstanding spaces our customers need, leading for a sustainable future and net zero carbon healthcare buildings.
- Quality of service To deliver on the promises we make to the customers and communities our buildings serve, unlocking the power of design and innovation to tackle their challenges.
- People to attract, retain and develop our high-quality, specialist team, investing in skills and new ways of working.
- Long-term relationships building better futures for people and places through our enduring partnerships with them, and delivering lasting impact with communities.