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 Watford, Hertfordshire which is due to be completed in December 2013.
The property will be let to two GP practices, a pharmacy and the Hertfordshire Partnership NHS Foundation Trust. The GP and pharmacy leases are for 20 and 35 years respectively subject to three-yearly rent reviews, the pharmacy being indexed to RPI. The Foundation Trust's ten year lease is for shell accommodation subject to five-yearly market rent reviews. The total acquisition cost of the property is £7.74 million.
The MedicX Fund's total property portfolio now comprises 123 properties throughout the United Kingdom of which 111 are complete, 10 are under construction and two are yet to start construction. The annualised rent roll for all properties is now £28.8 million.
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 123 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 30 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