Acquisition of new primary care medical centre

RNS Number : 4633U

The MedicX Fund Limited

21 December 2011

 



For immediate release

21 December 2011

MedicX Fund Limited

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

Acquisition of new primary care medical 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 it has agreed terms to acquire a new primary care medical centre in Methil, Fife which is due to be completed in September 2012.

The property will be let to a GP practice and a pharmacy tenant on the basis of 20 year leases, which are subject to five-yearly reviews to market rent and RPI respectively.  The total acquisition cost of the property is anticipated to be £1.9 million.

This property is one of the seven approved acquisitions previously announced on 30 March 2011.

The MedicX Fund's total property portfolio now comprises 64 properties throughout the United Kingdom of which 55 are complete, and 9 are under construction.  The annualised rent roll for all properties is now £15.5 million.  

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For further information please contact:

Buchanan Communications                                              [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 64 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 26 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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