Acquisition

RNS Number : 6937H

The MedicX Fund Limited

25 February 2010

 



Press Release

For immediate release                                                                                    

25 February 2010

MedicX Fund Limited

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

Acquisition of Medical Centre at Bilborough

MedicX Fund, (LSE: MXF) (the "Company"), the specialist primary care infrastructure investor in modern, purpose-built, primary healthcare properties in the United Kingdom, is pleased to announce it has entered into a forward funding agreement to acquire a primary care medical centre at Bilborough, Nottinghamshire which is due to be completed in January 2011.

The total acquisition cost of the property is anticipated to be £2.0m.  The property has been valued by King Sturge LLP, valuers to the MedicX Fund, at £2.0m, after deducting purchaser's costs of 5.75%.  

The property will be let to GP and pharmacy tenants for initial terms of 25 years. All leases provide for three-yearly rent reviews, the majority of the income being reviewed to open market value.  

The MedicX Fund's total property portfolio now comprises 51 properties throughout the UK of which one is currently under construction and three are due to commence construction later this year.  The annualised rent roll for all properties is now £11.8 million.   

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For further information please contact:

MedicX Fund                                                                  [phone]

David Staples, Chairman

MedicX Group                                                                [phone]

Keith Maddin, Chairman

Mike Adams, Chief Executive Officer

Mark Osmond, Chief Financial Officer

Buchanan Communications                                              [phone]

Charles Ryland/Lisa Baderoon/Miranda Higham

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 51 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 33 people operating across the UK.  

The Company's website address is www.medicxfund.com 

 

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