Assura (AGR) Trading Update summary

Strategic highlights

• Entered a £250 million joint venture with USS, enhancing funding diversity and supporting future growth across broader healthcare markets, including NHS Trusts and private hospitals.

• Focused on capital recycling and exploring new opportunities, while maintaining a loan-to-value policy range of 40-50%.

• Emphasized strong stakeholder relationships and readiness to support the NHS amid increasing healthcare infrastructure demand.

Operational performance

• Portfolio consists of 612 properties with an annualised rent roll of £149.2 million.

• Completed three developments totaling £46 million, including a major in-house project at Northumbria Health & Care Academy.

• Settled 42 rent reviews, generating a £0.5 million uplift (7.8% increase on previous rent).

• Agreed to transfer seven assets valued at £107 million to the USS joint venture.

• Completed three asset enhancement projects (£1.5 million spend) and four lease regears; five more capital projects underway.

Growth pipeline

• Five developments currently on site with a total cost of £46 million; £32 million remains to be spent.

• Immediate pipeline includes five schemes (£28 million) and 15 capital asset enhancement projects (£9 million projected spend over two years).

• 37 lease regears in the pipeline, covering £4.5 million of existing rent roll.