LONDON (Alliance News) - MedicX Fund Ltd Friday said it has contracted to acquire a new primary healthcare medical centre in Hertfordshire for an expected cost of GBP2.7 million.
The healthcare infrastructure investment company said the property, which is due to be completed in June 2015, is being bought under a framework agreement with General Practice Investment Corp dated back to May 2013.
MedicX said the property will be let to a GP practice, which will take a 20 year lease from completion of the deal, subject to three-yearly rent reviews.
The company said its total property portfolio now comprises 132 properties throughout the UK, of which 127 are operational and five are under construction, with annualised total rent of GBP31.6 million.
MedicX shares closed down 0.6% at 83.25 pence on Friday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
Copyright 2014 Alliance News Limited. All Rights Reserved.