Assura plc purchase £30m Health Care Asset from Whitton and Tagliaferri

Posted on 5th October 2018

Former aAIM founders Robert Whitton (currently Affinity Real Estate CEO) and Mark Tagliaferri (London Strategic Land) are pleased to announce the sale of The Stratford Healthcare Centre, Stratford-upon-Avon, a long-term commercial property investment opportunity to Assura plc for in excess of £30m. The pair, who are now both investors in Strategic Land, acquired the purpose-built Health centre when it was developed back in 2006.

The unique opportunity was brought to the market earlier this year with Cushman and Wakefield and Affinity Commercial advising on the strategic disposal.

The 64,454 sq. ft. asset for healthcare and community services is currently occupied by the Coventry Warwickshire Partnership NHS Trust. The asset is occupied by a government backed tenant on a long lease, and a current rental income of £1.3m per annum.

This purchase is part of the completion of three acquisitions by Assura since the half year for a combined consideration of £50 million. This takes Assura’s year to date spend on additions to £158 million and they now boast a portfolio of 42 medical centres with a passing rent roll of £7.7 million and a weighted average unexpired lease term of 14.2 years.

Robert Whitton commented:

“We have held this asset since it was built 12 years ago as part of a strategy to acquire long dated credit leases. We believed with yields at historic lows now was an opportune time to sell. My businesses are now focussed on investing in strategic land and Regeneration projects that produce purpose-built long-term rental income from residential property.”

The sale follows the sale by the pair and other investors of the JVC Logistics Centre for £55m at the end of last year.