Warrington-based healthcare real estate investment trust (REIT) Assura plc said on Tuesday it increased the value of its portfolio by £246 million to £2 billion in the year to March 31, 2019.

The REIT said its investment portfolio now comprises 563 properties with a passing rent roll of £102.7 million, 85% of which is underpinned by the NHS.

Assura profit before tax rose 17% to £84 million and net rental income rose 18.7% to £95.2 million.

Assura shares rose about 3% to 62.7p to give the firm a current stock market value of almost £1.5 billion.

Assura CEO Jonathan Murphy said: “Assura has delivered another year of strong operational performance with robust revenue and rental growth.

“This has been driven by our development and investment teams’ focus on growing and enhancing our portfolio and active asset management.

“We are well positioned in the primary care property market and our development pipeline is the strongest it has been in 10 years.

“Our expertise in this field will be further strengthened by today’s announcement of the acquisition of the primary care developer GPI which enhances our development pipeline by an initial £92 million. 

“As the government continues to approve healthcare schemes, we look forward to maintaining our deep relationships with the NHS.

“This is built on our strong links with healthcare trusts and ability to provide high-quality primary care facilities that benefit patients and reduce pressure on the NHS.”