The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Specialist primary care infrastructure investor MedicX is to buy a new primary care medical centre in Kingston upon Thames, South West London, which is due to be completed in November 2012. The total acquisition cost of the property is anticipated to be £2.9m.
Set up for H2 growth http://www.edisoninvestmentresearch.co.uk/researchreports/MedicX310511review.pdf
MedicX sees strong demand continuing Date: Thursday 26 May 2011 LONDON (ShareCast) - Healthcare property investor MedicX Fund reported continued strong demand for new purpose-built primary health care facilities as it posted results for the half year to 31 March. Total income during the period was up to £6.2m from £5.7m over the same period the previous year. “MedicX Fund is well positioned to take advantage of its investment pipeline and ensure that its fifth year continues and expands upon the already proven track record of delivering steady and increasing returns from its property portfolio,” chairman David Staples said. “With significant opportunities to add to the high quality property portfolio, MedicX Fund is well placed to continue delivering progressive long-term returns to shareholders.”
http://www.investegate.co.uk/Article.aspx?id=201105260700143120H
Property income fund MedicX is a specialist investor in primary care infrastructure. It holds a portfolio of 58 properties (including six under construction and one due to get underway this year), let mainly to government funded (NHS) tenants and pharmacies. The recent equity issue raised £34.3m gross (47.7m shares at 72p) and funds the next phase of growth. This cash and, in due course, new debt will cover the cost of acquisitions, which we expect to be immediately earnings enhancing. The current investment pipeline comprises, subject to contract, 26 properties (three completed and 23 developments) with an estimated, fully developed value of c £95m (current NAV £197m). http://www.edisoninvestmentresearch.co.uk/researchreports/MedicX040411update.pdf