MedicX Fund has announced that it has acquired a new primary healthcare centre, in Brynhyfryd, Swansea, by way of forward funding. The property is due to be completed in January 2017 and will be let to a GP practice, the Abertawe Bro Mogannwg University Health Board and a pharmacist. The company says that all leases will be for a term of 20 years from practical completion and the rent is to be subject to three-yearly effectively upwards only market rent reviews. This acquisition is being made under a new framework agreement with The Healthcare Property Company Limited and the total acquisition cost is £3.0m. The company says that The Healthcare Property Company have a pipeline of other potential schemes which may be contracted later this year. MedicX says that, following this acquisition, its total property portfolio now comprises 150 properties throughout the United Kingdom and Ireland. Of these, 143 are operational and let, and seven are under construction. The annualised rent roll for all properties is now £36.4m.
MedicX acquiring new primary care centre in Brynhyfryd, Swansea : MXF