LONDON (Alliance News) - MedicX Fund Ltd Thursday said its portfolio at the end of June was valued at GBP494.5 million, reflecting a net initial yield of 5.73%, which has resulted in a valuation gain of GBP800,000 during the quarter to June 30.
The specialist primary care infrastructure investor said at the period-end its adjusted net asset value stood at GBP229.1 million or 64.8 pence per share, compared with 64.7 pence at the end of March.
Since April 1, MedicX said 18 leases and rents of GBP1.0 million have been reviewed. Of these reviews, an uplift of 1.7% was achieved through open market reviews with Retail Price Index reviews achieving 3.27%, the company said. Reviews of GBP9.9 million of passing rent are currently under negotiation.
At an operating level, MedicX said it committed GBP16.9 million to four properties, three of which are currently under construction. In June the group sold three none-core properties for a combined fee of GBP4.3 million.
Overall the portfolio consists of 134 properties.
At the end of June, the company paid a quarterly dividend of 1.45 pence per share.
MedicX shares were quoted up 0.2% at 81.65 pence Thursday morning.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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