13th Jul 2009 11:33
For immediate release 13 July 2009
MedicX Fund Limited
("MedicX Fund", "the Fund" or "the Company")
Acquisition update
MedicX Fund, (LSE: MXF) , the specialist primary care infrastructure investor in modern, purpose-built, primary healthcare properties in the United Kingdom, today announces an update on acquisition progress.
In its interim announcement on 28 May 2009, the Fund announced that it had agreed to enter into two forward funding arrangements with a combined investment of £15.2 million. As previously reported, the forward funding agreement for the Abergele property has been completed and development of this property with a total acquisition cost of £3.3 million is due to complete in December 2009. Having agreed terms for the acquisition of the second of these properties, at St Annes, for a total acquisition cost of £11.9 million the vendor has subsequently decided to retain the property.
The Fund is in advanced negotiations regarding the purchase of a number of properties and will advise on completion of any acquisition in due course.
The total property portfolio comprises 46 properties throughout the UK of which two are under construction.
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For further information please contact:
MedicX Fund +44 (0) 1481 723 450
David Staples, Chairman
MedicX Group +44 (0) 808 2025461
Keith Maddin, Chairman
Mike Adams, Managing Director
Buchanan Communications +44 (0) 20 7466 5000
Charles Ryland / Mary-Jane Johnson / Miranda Higham
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