Assura Group Limited, the UK’s leading primary care property investor and developer, today confirms that development has commenced at the Ashby de la Zouch Medical Centre. This is contracted via a forward purchase and funding agreement with the vendors of Metro and will provide a 1,760m2 modern community health centre. The £4.8 million investment is due to be completed by January 2016.
The property will house two occupiers, a GP practice and pharmacy. The tenants have signed Agreements for Lease for 25 years from completion.
This is the second of the four further schemes, as announced on 6 November and follows completion of the Kidderminster agreement on 3 December 2014.
Additionally Assura can announce two further acquisitions at Trellech and Wetherby. The two properties have been acquired for a total cost of £3.5 million with a combined rent roll of £0.21 million. The remaining unexpired lease terms are 17.5 years and 24.6 years respectively with a combined yield of 6%.
Assura owns 254 medical centres and has a contracted rent roll of £54.9 million.