Assura plc, the Warrington-based healthcare real estate investment trust (REIT), has reported a portfolio of 607 properties with an annualised rent roll of £141.6 million.

In a trading update for the third quarter of the year to December 31, 2022, the FTSE 250 firm said it is currently on site with 11 developments.

On portfolio valuation, Assura reported a net initial yield of 4.86% at December 2022, an outward movement of 34 basis points since September 2022.

This represents a 7% reduction in portfolio value to £2.7 billion.

Assura CEO Jonathan Murphy said: “Assura has delivered another period of good progress and disciplined activity.

“Three developments and three asset enhancement projects reached practical completion, providing high-quality new or improved premises for nearly 100,000 patients.

“Our on-site activities progressed well, with a further 11 developments and seven asset enhancement projects on track to complete in the coming months. This includes initiating our first forward-funding deal in Ireland. 

“We have a strong market position, balance sheet and pipeline of growth opportunities and will continue to deploy capital in a disciplined manner.

“The NHS continues to face tremendous pressure and the need to invest in high-quality primary care to help alleviate this position has never been greater.

“Assura remains committed to working closely with the NHS to provide crucial primary care infrastructure, while continuing to progress its proven strategy and deliver attractive returns for shareholders.”