Assura issues £300m bond to fund pipeline  

The Warrington-headquartered healthcare developer and investor has raised the cash to finance projects as it bids to become the “the number one listed property business for social impact”. 

The £300m ‘social bond’ will be spent on acquiring, developing and refurbishing publicly accessible primary care and community healthcare centres. 

One of the acquisitions the bond could fund is that of the medical centre at Trafford Housing Trust’s Timperley Library in a deal expected to complete later this year. 

Assura has an immediate development pipeline totalling £60m, defined as projects due to commence within the next year, according to a trading update in July.  In that update, the business reported “normal” patterns in rent collection over the course of the pandemic. 

The bond will be issued by Assura Financing and guaranteed by Assura and a number of the Assura group’s subsidiaries, according to the firm. 

Jayne Cottam, chief financial officer of Assura, said: “Our ambition is to become the UK’s number one listed property business for social impact. 

“The issuance of the bond demonstrates our commitment to contributing to the communities in which we operate and will be used to support our continued investment in providing more fit-for-purpose primary and community healthcare centres.”