Assura has exchanged on the disposal of seven assets for a gross consideration of £64m.

The latest disposals mean that since the start of the financial year, the property company has sold 30 assets for gross proceeds of £200m, at a weighted average net initial yield of 4.8%.

Assura is a REIT that designs, builds, invests in and manages healthcare buildings. The group confirmed that its latest net proceeds have deployed in reducing the acquisition debt used to finance its £500m private hospital portfolio acquired in August 2024, at 5.9% yield on cost.

The latest disposal also marks further progress in Assura's overall debt reduction plans and the company’s proforma net LTV will reduce to 47%.

Assura also revealed that the seven assets disposed of have been sold into its £250m joint venture. Assura retains a 20% equity interest in the joint venture resulting in net proceeds of £51m.

Following this transaction, the joint venture has gross assets of £172m. Assura continues to act as property and asset manager to the joint venture, receiving management fees linked to the valuation of the portfolio.

CEO at the company, Jonathan Murphy, said: “Reaching this £200m milestone in our disposal programme means we are on track to achieve our target of net debt to EBITDA below nine times and LTV below 45% well ahead of the previously outlined timetable.

“This accelerated delivery and our ability to achieve sales is testament to our operational excellence and the quality and attractiveness of our property portfolio.”

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