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Assura said it remained confident in its outlook amid 'good' progress in the first quarter as it continued to expand its immediate pipeline of developments and acquisitions.
The company expanded its the value of its immediate development pipeline to £77m in the quarter, with its acquisitions pipeline increasing to £64m, compared with £41m at March 2019.
The total immediate pipeline value, including on-site developments, of £199m was up from £142m at the year end, the company said.
Assura made good progress in the first quarter, further enhancing our high-quality portfolio of primary care properties. Our immediate pipeline of developments and acquisitions has never been stronger, while we disposed of 12 properties that were held for sale for cash proceeds of £17 million which was above book value, said Jonathan Murphy, CEO.
In May, we completed the purchase of primary care developer GPI and welcomed a talented new team into Assura. The acquisition boosted our immediate and extended development pipeline by an initial £92 million.
"We remain confident in our outlook for the full year and in our longer-term prospects.