MedicX Fund Limited Acquisition of five completed properties

Posted: 24th February 2012 13:06

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 completed the acquisition of five completed and fully let primary care medical centres in Grimsby, Ilkeston, Middlesbrough, Saltburn-by-the-Sea and Skelton. 

The purchase is by way of a corporate acquisition and the total consideration for the properties is £20 million, less debts owed by the acquired company.  The Fund intends to refinance the debt shortly from its existing facilities.

The MedicX Fund's total property portfolio now comprises 70 properties throughout the United Kingdom of which 61 are complete and 9 are under construction. The annualised rent roll for all properties is now £17.1 million.

David Staples, Chairman of MedicX Fund, said: "We are very pleased to have completed this acquisition of five modern purpose-built primary healthcare properties which meet with the Fund's long term investment strategy."

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