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Assura PLC on Thursday said it was in a strong financial position and well placed to deliver on its strategic objectives. In a trading update for the financial first quarter to June 30, the Altrincham-based property business said it continues to look for acquisition opportunities which could be funded through a ‘variety of sources, including third party capital,’ whilst operating within its stated loan to value policy range of 40% to 50%. Assura noted 42 rent reviews were settled in the quarter, covering £7.0 million of existing rent and generating an uplift of £0.5 million. The company highlighted an immediate development pipeline of five schemes at a total cost of £28 million and a pipeline of 15 further capital asset enhancement projects at a projected spend of £9 million over the next two years. Shares in Assura were down 0.4% at 41.16 pence in London on Thursday morning. Copyright 2024 Alliance News Ltd. All Rights reserved.
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