Assura NIY 4.8% in third quarter
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Healthcare property investor and developer Assura reported a net initial yield of 4.86% at the end of the third quarter, an outward movement of 34 basis points since September.
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This represented a 7% reduction in portfolio value to £2.7bn, the company said on Monday.
Assura said it was currently on site with 11 developments at a total cost of £121m of which £48m has been spent to date.
It also had an immediate development pipeline of 10 schemes, where it would normally expect to be on site within 12 months at total cost of £82m.
“We continue to experience some delays to construction timetables and start dates,” Assura said.
Reporting by Frank Prenesti for Sharecast.com