Acquisition of two new medica

RNS Number : 4861W

The MedicX Fund Limited

19 November 2010

 



For immediate release                                                                                               19 November 2010

MedicX Fund Limited

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

Acquisition of two new primary care medical centres

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 agreed terms to acquire two new primary care centres in West Wirral and Raynes Park which are due to  achieve practical completion by November 2011 and March 2012 respectively.

The two properties will be let to GPs, PCTs and pharmacy tenants on the basis of 20 year and 25 year leases. The leases at both properties are subject to three-yearly rent reviews, approximately 40% of which are RPI reviews with the remaining reviews based on open market values. The total acquisition cost of the two properties is anticipated to be £14.5 million.

The MedicX Fund's total property portfolio now comprises 57 properties throughout the United Kingdom of which 49 are complete, six are under construction and two have yet to commence construction. The annualised rent roll for all properties is now £13.6 million.

The total committed investment is £226.6 million, across the portfolio. This excludes the Middlewich and Scholar Green projects which were contracted in September 2009, and which will be included when they commence construction.

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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 Communications:                                             [phone]

Charles Ryland/Lisa Baderoon

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  57 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 35 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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