LONDON (Alliance News) - MedicX Fund Ltd Monday said it has contracted to acquire a new primary healthcare medical centre in Watford, Hertfordshire which is due to be completed in December 2013 for GBP7.74 million.
The specialist primary care infrastructure investor said the property will be let to two GP practices, a pharmacy and the Hertfordshire Partnership NHS Foundation Trust.
The GP and pharmacy leases are for 20 and 35 years respectively, subject to three-yearly rent reviews, the pharmacy being indexed to RPI. The Foundation Trust's ten year lease is for shell accommodation subject to five-yearly market rent reviews.
MedicX Fund's total property portfolio now comprises 123 properties throughout the UK, of which 111 are complete, 10 are under construction and two are yet to start construction. The annualised rent roll for all properties is now GBP28.8 million, it said in a statement.
MedicX shares were down 3.5% at 79.38 pence Monday morning.
By Steve McGrath; stevemcgrath@alliancenews.com; @SteveMcGrath1
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