Addleshaw Goddard has advised UK REIT client and leading primary care property investor and developer, Assura Group Limited (Assura), on its £62.9 million acquisition of 11 high quality medical centres. The deal was completed through the purchase of the entire issued share capital of Metro MRI Limited (Metro) from Ray Seymour, Alistair Blacklaws and certain of their related persons.

The parties have also agreed, in principle, terms for funding four further medical centres to be developed by the Metro sellers on behalf of Assura, which are expected to have a value on completion of £21 million.

The acquired centres support the work of approximately 90 GPs servicing the health requirements of around 115,000 patients in England and Wales. Assura's primary medical centre portfolio now stands at 247.

The Addleshaw Goddard team was led by Real Estate M&A specialist Simon Wood, working with Corporate partner Richard Lee and included Ewa Chappell (Corporate), Peter Hardy, Dylan Roberts and Helen Tynan (Real Estate), Martin O'Shea and Michael McDonald (Banking) and Catherine Concannon (Tax).

Commenting on the transaction, Simon Wood said:

"We are proud to support Assura on another deal as they continue to enhance their strong portfolio of primary care assets. As the pressures of an ageing population and growing expectations from the public intensify, GPs will need to play an ever-increasing role in delivering healthcare needs - and Assura are well placed to continue to supply high-quality space to enable them to do so."

This represents the third corporate portfolio acquisition that the firm has acted on for Assura this year and follows closely on the heels of advising on Assura's £180m secondary fundraising, which completed in October.