Acquisition of a new primary healthcare centre

RNS Number : 5539L

The MedicX Fund Limited

04 July 2014

 



Press Release

For immediate release                                                                                    

4 July2014 

MedicX Fund Limited

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

Acquisition of a new primary healthcare 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, by way of a forward funding agreement, a new primary healthcare medical centre in Stevenage, Hertfordshire.  The property is due to be completed in June 2015. 

The property is being purchased under a framework agreement with General Practice Investment Corporation ("GPI") which was agreed in May 2013 at the time of acquisition of GPG No.5 Limited.  GPI have a strong pipeline of projects with a number expected to be contracted this calendar year.

The property will be let to a GP practice, who will take a 20 year lease from practical completion subject to three-yearly effectively upwards only market rent reviews.  The total acquisition cost of the property is anticipated to be £2.7 million.

The MedicX Fund's total property portfolio now comprises 132 properties throughout the United Kingdom of which 127 are operational and fully let, with five under construction. The annualised rent roll for all properties is now £31.6 million.

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For further information please contact:

MedicX Fund                                                                  [phone]

David Staples, Chairman

MedicX Group                                                                [phone]

Keith Maddin, Chairman

Mike Adams, Chief Executive Officer

Mark Osmond, Chief Financial Officer

Canaccord Genuity Limited                                              [phone]

Andrew Zychowski / Helen Goldsmith

Buchanan                                                                      [phone]

Charles Ryland / Sophie McNulty

Information on MedicX Fund Limited

MedicX Fund Limited ("MXF", "MedicX Fund", "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 132 properties.

The Investment Adviser to the Company is MedicX Adviser Ltd, which is authorised and regulated by the Financial Conduct 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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