Acquisition Replacement

RNS Number : 5592S

The MedicX Fund Limited

20 May 2009

 



This announcement replaces RNS 4481S issued yesterday, to clarify the valuation and state that the acquisition is from Primary Asset. 

For immediate release                                                                                                             20 May 2009

MedicX Fund Limited

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

Acquisition of Medical Centre at Abergele

MedicX Fund, (LSE: MXF) (the 'Company'), the specialist primary care infrastructure investor in modern, purpose-built, primary healthcare properties in the United Kingdom, today announces that it has entered into a forward funding agreement with Primary Asset to acquire a primary care medical centre at Abergele, Wales which is due to be completed by December 2009.

The total acquisition cost of the property is anticipated to be £3.3m. The initial rental income of the property will be £216,830 per annum and the property has been valued by King Sturge LLP, valuers to the MedicX Fund, at £3.2m after deduction of an assumed 5.75% for purchaser's costs.  

The total property portfolio now comprises 46 properties throughout the UK of which three are under construction. 

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 Elliott / Miranda Higham

 

END

 

 

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