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Assura PLC on Wednesday said it is bringing in a higher rent roll, having expanded its property portfolio.
The Warrington, England-based care property investor and developer said its portfolio grew to 662 from 610 properties in the firm's first quarter that ended June 30, compared to a year ago. Annualised rent roll increased to £141.3 million from £123.5 million. It made 17 property additions at a cost of £110 million, more than the 12 property additions at £53 million in total a year ago, it adds.
However, net debt widened to £1.11 billion from £954 million and the immediate acquisition pipeline shrank to £47 million from £58 million.
‘We are seeing increased opportunity to work with the NHS in providing the crucial primary care infrastructure that the country so badly needs, but we will maintain a disciplined approach to the deployment of capital as we do so,’ says Chief Executive Officer Jonathan Murphy.
Assura shares were 1.4% higher at 65.90 pence each in London on Wednesday morning.
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