Acquisition of Moorgate Prima

RNS Number : 1313X

The MedicX Fund Limited

10 August 2009

 



For immediate release                                                                                                         10 August 2009

MedicX Fund Limited

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

Acquisition of Moorgate Primary Care Centre, Bury

MedicX Fund, (LSE: MXF) , the specialist primary care infrastructure investor in modern, purpose-built, primary healthcare properties in the United Kingdom, today announces that it has acquired Moorgate Primary Care Centre, Bury, Lancashire. The building was completed in October 2008.

The property is already fully let to Bury PCT and Lloyds Pharmacy for an initial term of 20 years with an aggregate rent of £857,000 per annum. Both leases are subject to RPI increases every three years, with the Bury PCT lease reverting to three yearly market reviews after the first three reviews. The total acquisition cost of the property is £13.2 million.

The total property portfolio owned by the MedicX Fund now comprises 47 properties throughout the United Kingdom of which two are under construction and the annualised rent roll for all properties is now £10.7 million.  

End

For further information please contact:

MedicX Fund                            [phone]

David Staples, Chairman                     

MedicX Group                          [phone]

Keith Maddin, Chairman

Mike Adams, Managing Director

Buchanan Communications       [phone]

Charles Ryland / Mary-Jane Johnson / Miranda Higham

 

END

 

 

ACQUUUUWRUPBPUB