LONDON (Alliance News) - Specialist primary care infrastructure investor MedicX Fund Ltd Wednesday said it has acquired Lunn Healthcare Properties Ltd, a portfolio of nine operational and fully-let primary care medical centres, for a total cost of GBP24.6 million including transaction costs.
MedicX Fund said the nine medical centres are located throughout the north of England, and increases its total property portfolio to 133 primary healthcare properties, 127 of which are operational and fully-let, with six under construction.
As part of the transaction, the MedicX said it has agreed options to sell four of the nine medical centres to a party connected to the sellers, for GBP5.5 million. It said it expects the disposals to be completed in the second quarter of 2014.
It said total annualised rent roll for all properties following the acquisition has increased to GBP31.2 million, from GBP29.6 million.
Shares in MedicX Fund were trading 0.6% lower Wednesday morning, at 83.00 pence per share.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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