Promisia Healthcare facilities value increases by $3.7m

Promisia Healthcare has announced an increase in the aggregate value of its facilities as of March 31, 2025.

Valuations conducted by CBRE on three of Promisia's facilities - Nelson Street, Aldwins House, and Ranfurly Manor - revealed a valuation increase of approximately $3.7 million, bringing the total value of these facilities to $54.45m.

This represents a 7% increase compared to March 31, 2024.

The company attributed the increase to continued operational efficiencies and a year-on-year increase in occupancy at Ranfurly Manor and Aldwins House.

Additionally, the approval and ongoing conversion of the dementia wing at Nelson Street also contributed to the uplift.

Promisia's newly acquired Cromwell assets, Ripponburn and Golden View, will continue to use valuations undertaken in October 2024 for the 2025 year-end reporting.

The company's full-year results are currently being finalised and will be released by May 30, 2025.