21st Dec 2005 14:02
Medical Property Investment Fd Ltd21 December 2005 The Medical Property Investment Fund Limited (the "Company") Acquisition of a Development in Macclesfield The Company today announces this its subsidiary, MPIF Holdings Limited (MPIF),has entered into a conditional agreement to purchase shares in Primary CareInitiatives Limited (PCI) from various individuals. PCI's subsidiary, PrimaryCare Initiatives (Macclesfield) Limited (PCIM), owns land on the west side ofSunderland Road, Macclesfield. A 62,000 sq ft property is currently beingdeveloped by PCIM on the land as a primary care centre with integrated pharmacyand retail premises. Following completion of the development, which is expectedto be in the Spring of 2006, it is anticipated that the property willaccommodate around 44 GPs. In aggregate, the total capital committed by MPIF inrelation to the acquisition and the development of the land will not exceed£16.13m, excluding costs. A further announcement will be made to confirm the completion of the acquisitionin due course. For further information please contact: Richard Burrell, Berrington Fund Management LLP Tel. 01244 893 680 / 020 76596271 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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