Acquisition of a new primary care medical centre

RNS Number : 7142A

The MedicX Fund Limited

25 March 2013

 



For immediate release

25 March 2013

MedicX Fund Limited

("MedicX Fund", "the Fund" or "the Company")

Acquisition of a new primary care medical centre

MedicX Fund, (LSE: MXF), the specialist primary care infrastructure investor in modern, purpose-built, primary healthcare properties in the United Kingdom, is pleased to announce that it has contracted to acquire a new primary care medical centre in Cambridge, which is due to be completed in August 2013.

The property will be let to one GP practice at an initial rent of £325,000, by way of a 25 year lease, subject to three-yearly rent reviews to RPI. The total acquisition cost of the property is anticipated to be £5.5 million.

MedicX Fund also announces that it has disposed of the GP Surgery in Chandlers Ford, Hampshire for a total of £1.0 million, being slightly above the property's valuation as of December 2012.

The MedicX Fund's total property portfolio now comprises 107 properties throughout the United Kingdom of which 101 are complete and 6 are under construction. The annualised rent roll for all properties is now £25.1 million.  

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For further information please contact:

MedicX Group                                                                [phone]

Keith Maddin, Chairman

Mike Adams, Chief Executive Officer

Mark Osmond, Chief Financial Officer

Buchanan                                                                      [phone]

Charles Ryland/Sophie McNulty/Helen Greenwood

MedicX Fund Limited                                                       [phone]

David Staples, Chairman

Information on MedicX Fund Limited

MedicX Fund Limited ("MXF", the "Fund" or the "Company", or together with its subsidiaries, the "Group") is the specialist primary care infrastructure investor in modern, purpose-built primary healthcare properties in the United Kingdom, listed on the London Stock Exchange, with a portfolio comprising 107 properties.

The Investment Adviser to the Company is MedicX Adviser Ltd, which is authorised and regulated by the Financial Services Authority and is a subsidiary of the MedicX Group. The MedicX Group is a specialist investor, developer and manager of healthcare properties with 31 people operating across the UK.

The Company's website address is www.medicxfund.com. Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.

 

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