Acquisition of new primary care medical centre

RNS Number : 5064A

The MedicX Fund Limited

30 March 2012

 



For immediate release                                                                                        30 March 2012

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 contracted to acquire a new primary care medical centre in Rhymney, South Wales which is due to be completed in July 2013.

The property will be let to a total of six tenants including two GP practices, the Aneurin Bevan Health Board, and a pharmacy tenant on the basis of 20 year leases, all of which are subject to three-yearly reviews to market rent with the pharmacy review to RPI.  The total acquisition cost of the property is anticipated to be £9.1 million.

This property is one of the pipeline projects previously approved by the Board.

The MedicX Fund's total property portfolio now comprises 71 properties throughout the United Kingdom of which 62 are complete, and 9 are under construction.  The annualised rent roll for all properties is now £17.7 million.  

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For further information please contact:

Buchanan                                                                      [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 71 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 26 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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