2 June 2021

Assura plc

Development update

Assura plc ("Assura"), the leading primary care property investor and developer, is pleased to announce it has reached legal completion on a development funding agreement for a £22 million Ambulance Hub in the West Midlands.

Let to West Midlands Ambulance Service University NHS Foundation Trust ("WMAS") on a 30-year lease with 5-yearly rent reviews linked to RPI, the hub will contain essential facilities for the Hazardous Area Response Team, specialist equipment distribution warehouse, training facilities and space for 70 ambulances. WMAS is the second largest ambulance trust in England, covering 5,000 square miles and serving over 5.6 million people.

The Ambulance Hub will include photovoltaic panels, LED lighting throughout and a heat recovery system and is expected to reach BREEAM rating of "Excellent" and EPC B. 

The hub is being developed by Stoford Properties Ltd. Construction is expected to take 15 months with rent commencing in Q3 2022.

Continued investment activity in the first two months of the year

·    Completed one development (Ware) and moved on site with the Ambulance Hub

·    Currently on site with 16 developments (16 at 31 March 2021)

·    4 acquisitions completed for £22m

·    10 disposals completed for consideration of £15m, above the book value at March 2021

Jonathan Murphy, CEO, said:

"The West Midlands Ambulance Service serves over 5.6 million people, providing critical front-line and Patient Transport Services.  An effective and modern Ambulance Hub will be critical to the delivery of this essential service, and Assura, with its deep NHS and healthcare experience, is well positioned to provide the required space.

"This development is illustrative of the NHS's demand for modern, specialist real estate across its operations. The COVID crisis has only increased this demand, and Assura is well placed to provide the specific infrastructure that this country needs in a post-COVID environment."

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This announcement contains inside information as defined in Article 7 of the EU Market Abuse Regulation No 596/2014 and has been announced in accordance with the Company's obligations under Article 17 of that Regulation.

Notes to Editors

Assura plc, a constituent of the FTSE 250 and the EPRA* indices, is a UK REIT and long-term investor in and developer of primary care property. The company, headquartered in Warrington, works with GPs, health professionals and the NHS to create outstanding spaces for health services in our communities. At 31 March 2021, Assura's property portfolio was valued at £2,453 million.

Further information is available at www.assuraplc.com

*EPRA is a registered trademark of the European Public Real Estate Association.