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Assura PLC said on Wednesday said it concluded financing for its healthcare property development in the North East of England.
The primary care property builder & investor said it had reached financial close on the £25 million Northumbria Health & Care Academy development in Cramlington Northumberland.
The academy will be primarily let to Northumbria Healthcare NHS Foundation Trust on a 30-year effective full repairing and insuring lease. Rent will be assessed annually in line with the Retail Price Index.
The academy will be built over 18 months and completed in the third quarter of 2023.
Assura said it is on-site with 16 developments, having moved forward with two new schemes since December, costing a total of £128 million, up from £97 million in December.
Shares in Assura were up 0.8% to 67.90 pence each in London on Wednesday morning.
‘This scheme further demonstrates our strategy in action expanding our offering, working with NHS Trusts to develop high-quality and thoughtfully designed buildings that facilitate better health provision for their community, and helping deliver positive sustainability and social impact outcomes,’ said Chief Executive Officer Jonathan Murphy.
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