Assura makes 'good progress' YTD
By Iain Gilbert
Date: Tuesday 05 Oct 2021
(Sharecast News) - Property firm Assura said on Tuesday that it had been "extremely active" year-to-date as it made "good progress" with its investment and development strategy.
Assura stated it had added 27 properties to its portfolio in the period, comprising seven new development completions and 20 acquisitions for a combined total cost of £117.0m, while also completing 11 disposals for cash proceeds of £15.0m.
The FTSE 250-listed firm said it had an immediate development pipeline of 20 schemes, totalling a further £145.0m, up from £111.0m in March, while its extended development pipeline came to £263.0m.
Assura also said it was in a "robust financial position", with net debt of £1.01bn on 30 September and the issue of a 12-year 1.625% £300.0m sustainability bond in June.
As of 0915 BST, Assura shares were up 1.05% at 72.50p.
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