Portfolio update

RNS Number : 7319D

The MedicX Fund Limited

21 May 2012

 



For immediate release

21 May 2012

MedicX Fund Limited

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

Portfolio update

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 two new primary care medical centres in Tooting, South West London and Uckfield, East Sussex which are due to be completed in June 2013 and March 2013 respectively.

The Tooting property will be let to one GP practice on the basis of a 20 year lease, subject to upwards only three-yearly rent reviews to market value and the Uckfield property will be let to one GP practice and a pharmacy tenant on the basis of 25 year leases, subject to three-yearly reviews to market rent for the GP practice, with the pharmacy review to the higher of RPI or market rent.  The total acquisition cost of the two properties is anticipated to be £8.5 million.

MedicX Fund also announces it has disposed of the Churchside property in Mansfield for a total of £1.2 million. The MedicX Fund's total property portfolio now comprises 72 properties throughout the United Kingdom of which 61 are complete and 11 are under construction.  The annualised rent roll for all properties is now £18.1 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 72 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 27 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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