New HQ to create 90 jobs

Apr 23 2008 by Tony McDonough, Liverpool Daily Post

HEALTH care group Assura is investing £11m in a new Cheshire headquarters as part of an expansion drive that should create 90 jobs.

The stock market-quoted company will relocate from its current home in Chester to Daresbury Park where it will occupy 18,000 sq ft of newly-built office space.

Assura has bought the entire 54,000 sq ft building for £11m in a deal brokered by Liverpool commercial property agents Mason Owen.

Other tenants include H&S Administration and DeWitt.

Assura Group owns a portfolio of GP surgeries around the UK, operates a chain of pharmacies and joins forces with GPs to deliver NHS services to patients.

The new premises at Daresbury will pave the way for a gradual increase in staff from the current headcount of 130 to around 220.

Assura made the decision to move because the company has outgrown its current premises in Chester, where it has been based for the past four years.

Chief executive Richard Burrell said: “This is a great deal for Assura because it enables the company to take on three times the floor space that we have in our existing accommodation in Chester and, with the way we have financed the acquisition of the building and the benefit of rent from the other tenants, we have been able to effectively halve our HQ premises costs.

“The new premises will provide us with an environment that fits absolutely with our commitment to provide quality office premises for our staff.”

Assura has invested or committed more than £575m on health facilities across the UK and is on track to commit £750m by the end of 2009.

It has a considerable presence in Merseyside, Wirral and Cheshire, with facilities across the region from north Merseyside to south Cheshire.

By purchasing the building, Assura took advantage of the current softening of yields in the commercial property market. The deal equated to a net initial yield of 7.4%.

Chris Connor, of Mason Owen, said: “We searched for suitable premises, initially on a lease basis, for Assura and located Daresbury Park.

“It is such an ideal location because of its closeness to the motorway network.”

The move from the existing premises is expected to be completed by the end of July.

tonymcdonough