LONDON (Alliance News) - MedicX Fund Limited said Thursday it has contracted to acquire a new medical centre with a pharmacy in Peterborough set for completion in June next year.
The specialist primary care infrastructure investor in modern, purpose-built, primary healthcare properties said it has contracted to acquire the new medical centre by way of a forward funding agreement.
The scheme is the second MedicX Fund has purchased under the framework agreement with General Practice Investment Corporation which was agreed in May 2013 at the time of acquisition of GPG No.5 Limited, said the firm.
Upon completion in June 2015 the property will be let to a GP practice and pharmacy, said MedicX. Both tenants will take 21 year leases subject to three-yearly rent reviews.
The total acquisition cost of the property is anticipated to be GBP6.7 million.
MedicX Fund's total property portfolio now comprises 134 primary care properties of which 129 are operational and fully let, with five under construction. The Fund's total annualised rent roll for all properties is now GBP31.6 million, said the firm.
Total committed investment since September 30, 2013 is now GBP43.8 million, taking the value of committed investment in MedicX's portfolio to GBP500.5 million
Shares in MedicX were trading marginally higher Thursday afternoon, up 0.27% at 83.23 pence per share.
By Alice Attwood; aliceattwood@alliancenews.com; @AliceAtAlliance
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