10th Aug 2009 07:00
For immediate release 10 August 2009
MedicX Fund Limited
("MedicX Fund", "the Fund" or "the Company")
Acquisition of Moorgate Primary Care Centre, Bury
MedicX Fund, (LSE: MXF) , the specialist primary care infrastructure investor in modern, purpose-built, primary healthcare properties in the United Kingdom, today announces that it has acquired Moorgate Primary Care Centre, Bury, Lancashire. The building was completed in October 2008.
The property is already fully let to Bury PCT and Lloyds Pharmacy for an initial term of 20 years with an aggregate rent of £857,000 per annum. Both leases are subject to RPI increases every three years, with the Bury PCT lease reverting to three yearly market reviews after the first three reviews. The total acquisition cost of the property is £13.2 million.
The total property portfolio owned by the MedicX Fund now comprises 47 properties throughout the United Kingdom of which two are under construction and the annualised rent roll for all properties is now £10.7 million.
End
For further information please contact:
MedicX Fund +44 (0) 1481 723 450
David Staples, Chairman
MedicX Group +44 (0) 808 202 5461
Keith Maddin, Chairman
Mike Adams, Managing Director
Buchanan Communications +44 (0) 20 7466 5000
Charles Ryland / Mary-Jane Johnson / Miranda Higham
Related Shares:
Medicx Fund