Acquisition of a new primary healthcare centre

RNS Number : 8896I

The MedicX Fund Limited

09 July 2013

 



For immediate release

9 July 2013

MedicX Fund Limited

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

Acquisition of a new primary healthcare 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 that it has contracted to acquire a new primary healthcare medical centre in Wigston, Leicestershire which is due to be completed in July 2014.  This is the first scheme MedicX Fund has purchased under the framework agreement with General Practice Investment Corporation ("GPI") which was agreed in May 2013 at the time of the acquisition of GPG No.5 Limited.    

The property will be let to one GP practice and a pharmacy, both on 21 year leases subject to three-yearly rent reviews. The total acquisition cost of the property is anticipated to be £6.0 million.

The MedicX Fund's total property portfolio now comprises 122 properties throughout the United Kingdom of which 109 are complete and 13 are under construction. The annualised rent roll for all properties is now £28.3 million.

David Staples, Chairman of MedicX Fund, said 

"I am delighted to announce this first acquisition for the MedicX Fund under the forward funding agreement with GPI.  We look forward to working closely with GPI to acquire further primary healthcare properties that match the Fund's investment criteria and we expect to make announcements in this regard in due course."

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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                                                                      [phone]

Charles Ryland/Sophie McNulty/Helen Greenwood

www.buchanan.uk.com 

MedicX Fund Limited                                                       [phone]

David Staples, Chairman

Information on MedicX Fund Limited

MedicX Fund Limited ("MXF", "MedicX Fund", "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 122 properties.

The Investment Adviser to the Company is MedicX Adviser Ltd, which is authorised and regulated by the Financial Conduct Authority and is a subsidiary of the MedicX Group.  The MedicX Group is a specialist investor, developer and manager of healthcare properties with 29 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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