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Assura Group : AGR – acquisition of medical centre

Assura Group has bought Park Medical Services Limited for £12.3m. The company they have acquired owns a 3,300 sq m building in Middlesbrough, “The One Life Building”, which contains a GP practice, a pharmacy, a day case operating theatre, community services, mammography and x-ray services along with other outpatient services.

The rent on the property is £800,000 per annum – equivalent to a yield of 6.5%. The weighted average unexpired lease term is 14.1 years. Assura Group is paying £2.7m cash and taking on debt associated with the company.

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