Acquisition

RNS Number : 3681M

The MedicX Fund Limited

21 May 2010

 



For immediate release                                                                                                        21 May 2010

MedicX Fund Limited

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

Acquisition of three new primary care medical centres

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 three new primary care medical centres in Bermondsey, Halifax and Apsley which are due to be completed between January and July 2011.

The three properties will be let to GPs, PCTs and pharmacy tenants on the basis of 20 year and 25 year leases.

The leases for the properties at Bermondsey and Halifax are subject to three-yearly rent reviews whilst the leases for the Apsley property provide for four-yearly rent reviews. The total acquisition cost of the three properties is anticipated to be £9.4 million.

The MedicX Fund's total property portfolio now comprises 55 properties throughout the United Kingdom of which 47 are complete, one is under construction and seven have yet to commence construction.  The annualised rent roll for all properties is now £12.8 million.   

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For further information please contact:

Buchanan Communications                                              [phone]

Charles Ryland/George Prassas

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 55 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 34 people operating across the UK.  

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

 

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