Acquisition of new primary care medical centre

RNS Number : 6018B

The MedicX Fund Limited

22 February 2011

 



For immediate release                                                                                              22 February 2011

MedicX Fund Limited

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

Acquisition of 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 it has acquired a completed primary care medical centre in Immingham, North East Lincolnshire, built in 2004.

The total acquisition cost of the property is £6.3 million. The property is leased to three tenants, including a GP surgery, which accounts for 90% of the rental income from the property, and a pharmacy. The leases are subject to three yearly upward only rent reviews to open market value.

The MedicX Fund's total property portfolio now comprises 58 properties throughout the United Kingdom of which 50 are complete, seven are under construction and one has yet to commence construction.  The annualised rent roll for all properties is now £14.0 million.   

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For further information please contact:

Buchanan Communications                                              [phone]

Charles Ryland/Suzanne Brocks

MedicX Group                                                                [phone]

Keith Maddin, Chairman

Mike Adams, Chief Executive Officer

Mark Osmond, Chief Financial Officer

MedicX Fund                                                                  [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 58 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 30 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) are incorporated into, or forms part of, this announcement.

 

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