Healthcare REIT Assura raises £48m in disposals

Assura raised £48m from disposals in the final three months of 2024 in an effort to reduce debt following last year’s £500m purchase of 14 private hospitals, according to a third quarter trading update issued today. The update for the three months to December 31 says the healthcare REIT is in active discussions for a further £110m of disposals, which would put the company on course to hit targets of net debt to EBITDA below 9 times and LTV below 45% over the next 12 to 18 months. The Assura portfolio now stands at 608 properties with an annualised rent roll of £176.9m, which is down on the £179.1m at the end of September. Following last August’s move into private hospitals, Assura will focus its disposal strategy this year on GP surgeries. It is currently on site with five developments totalling £44m, including two net-zero carbon buildings, one of which is a GP centre and the other an NHS children’s centre. It is also redeveloping its Altrincham headquarters to boost its net-zero credentials. The REIT said it had been encouraged by government announcements this week regarding a partnership agreement between the NHS and the private healthcare sector to reduce waiting times, as well as a commitment to open more community diagnostic centres. Chief executive Jonathan Murphy said: “There is ongoing national recognition that improved health outcomes can be delivered by investment in community healthcare and through utilising capacity within the private sector. “We have seen this recognition backed up by policy actions: £900m of funding for GPs announced in December; an additional £100m of committed investment to upgrade the GP estate; and this month a new partnership agreement between NHS England and the independent sector to work together for the benefit of patients. “Assura is uniquely positioned to support this shift through the delivery of high-quality, modern and sustainable facilities.” Photo © Pavel Danilyuk/Pexels