MedicX Fund Limited Acquisition of a new primary healthcare centre
MedicX Fund, the specialist primary care infrastructure investor in modern, purpose-built, primary healthcare properties in the United Kingdom and Ireland, is pleased to announce that it has contracted to acquire, by way of forward funding, a new primary healthcare medical centre near Glynneath in the Vale of Neath, South Wales. The property is due to be completed in September 2018.
The acquisition is being made under the framework agreement which provides MedicX Fund the right to forward fund new primary healthcare schemes from Healthcare Property Company Ltd (“HPC”), a leading developer of primary healthcare centres. Following their schemes in Thingwall, Buckley and Brynhyfryd, this is now the fourth project the HPC team has brought to MedicX Fund since 2012.
The net floor area of the completed development will be 1,536 m2 which will be let to the Abertawe Bro Mogarnnwg University Health Board, the Vale of Neath Practice and a local pharmacy. All leases run for a term of 20 years from practical completion and the completed property is expected to cost £4.6 million.
MedicX Fund’s total property portfolio now comprises 152 properties throughout the United Kingdom and Ireland of which 146 are operational and let, with six under construction.