Assura Group Limited
Acquisition of a medical centre for £10.1 million
Assura Group Limited (“Assura”), the leading primary care property investor and developer is pleased to announce that it has acquired the Church View Health Centre, South Kirkby. This 2,513 m2 property is leased to a GP practice, a pharmacy, and an optician and accommodates community based services including maternity, diabetes screening and minor surgery.
The asset has been acquired for £10.1 million with passing rent of £0.53 million, which equates to a yield of 5.2%. The property is let on full repairing and insuring leases with 23.5 years remaining and annual RPI increases with a minimum uplift of 2.5%.
Following the transaction Assura now owns 251 medical centres and has a contracted rent roll of £54.2 million.