MedicX Fund Limited has contracted to acquire two modern primary healthcare medical centres in Walsall and Birmingham from a private investor advised by investment manager Longmead Capital LLP.
The property in Walsall is let in its entirety to NHS Property Services and the property in Birmingham is let to a GP practice, Birmingham and Solihull Mental Health Trust and a Pharmacy. Together the properties provide a total area of 5,600 m(2) , their weighted average unexpired lease term is 13.2 years and the total acquisition price including costs is GBP22.4 million.
MedicX Fund’s total property portfolio now comprises 156 properties throughout the United Kingdom and Ireland of which 151 are operational and let, with five under construction. The annualised rent roll for all properties is now GBP38.9 million.
MXF : MedicX buys two primary healthcare centres