| Item | % rise year on year |
|---|---|
| Investment portfolio value | 41 |
| NAV | 97 |
| NAV per share | 3.4 |
| Rental income | 26 |
Healthcare property specialist Assura has boosted the value its investment portfolio by 41% to £925m and upped its rental income by 26%.
The medical centre investor and developer posted a 97% increase in net assets in the full year to the end of March.
NAV rose by only 3.4% to 4.9p per share from 43.4p, however, as the company raised more equity through the year.
In October 2014 the company added around 55% more equity to the company with a rights issue worth £175m on top of the market capitalisation at the time of about £270m.
This assisted in the acquisition of 57 properties valued at £230m in total, including two portfolio acquisitions totalling £170m, but diluted the NAV per share compared with the year before.
Rental income was up to more than £48m from £38m and valuations rose by £21.4m for the year to the end of March 2015.
Overall the company delivered returns of 7.8% on its properties, exceeding the IPD Healthcare index of 5.9%.
Debt remains slightly higher than industry averages, at 48%. Chief executive Graham Roberts believes that this figure is well within a range of 45% to 55%, which, he says, will give the company more flexibility to acquire and develop in the future.
