MedicX buys primary care medical centre for £2.4m
Date published: 21 June 2011
MedicX Fund has agreed terms to buy a new primary care medical centre in Rochdale for £2.4million.
Its development arm MedicX Property is constructing the Wellfield centre, which is due to be completed in May 2012.
The property will be let to a GP practice and a pharmacy tenant on the basis of 20 year leases, which are subject to three-yearly reviews to market rent and RPI respectively.
This property is one of the seven approved acquisitions previously announced on 30 March 2011.
The MedicX Fund's total property portfolio now comprises 59 properties throughout the United Kingdom of which 50 are complete, and nine are under construction. The annualised rent roll for all properties is now £14.4 million.
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