16 March 2022

Assura plc

Development update

Assura plc ("Assura"), the leading primary care property investor and developer, is pleased to announce it has reached financial close on the Northumbria Health and Care Academy, a £25 million development in Cramlington, Northumberland.

The building will be primarily let to Northumbria Healthcare NHS Foundation Trust on a 30-year effective FRI lease with rent reviewed annually by reference to RPI.

Situated on undeveloped land on the site of Northumbria Specialist Emergency Care Hospital, the Academy will house a training centre of excellence and clinical space for delivery of a range of community health services as well as conference and administrative space. The training centre will initially focus on nursing, midwifery and allied health professional training.  

In accordance with Assura's existing targets, the Academy is expected to achieve a BREEAM rating of Excellent and an EPC of A.

In addition, the Academy is aiming to become the UK's first Gold accredited healthcare sector building under the IWBI WELL Building Standard. WELL certification is aimed at improving health and human experience through design, focusing on 10 concepts including air, water, light, thermal comfort and community.  

The project will also be a flagship for Assura's social impact programme, working with the NHS Trust community engagement programme on local arts projects, and contributing towards the delivery of a hospital nature trail designed to promote staff wellbeing.

The Academy is expected to have an 18-month build period with completion by Q4 2023.

Current development activity

Since the last trading update as at 31 December 2021, Assura has moved on site with two new development schemes (including the centre referenced above).

Assura is now on site with 16 developments with a total development cost of £128 million (December 2021: 14, £97 million).

Jonathan Murphy, CEO, said:

"Working with the Northumbria Healthcare NHS Foundation Trust, we know this Academy in Cramlington will make a real difference to people in the area.

"This scheme further demonstrates our strategy in action expanding our offering, working with NHS Trusts to develop high-quality and thoughtfully designed buildings that facilitate better health provision for their community, and helping deliver positive sustainability and social impact outcomes."

- ENDS -

For more information, please contact:

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 30 September 2021, Assura's property portfolio was valued at £2,595 million.

Further information is available at www.assuraplc.com

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

Assura plc LEI code: 21380026T19N2Y52XF72