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MedicX Fund sells healthcare property
An investor in modern purpose-built primary healthcare properties in the UK has sold one of its medical centres.
MedicX Fund, a primary care investment fund managed by Surrey-based MedicX Group, divested of Aird Medical Centre in Beauly, Scotland, to net £1.4 million. The centre – one of the smaller properties in its portfolio – was valued last September at £1.3 million by DTZ Debenham Tie Leung.
The disposal reduces MedicX Group’s property portfolio count to 44, five of which are under construction throughout the UK.
MedicX Fund acquires primary care properties that are principally let to GPs and Primary Care Trusts. With total committed investments to date amounting to £159 million, the fund is on target to meet its investment objective of £200 million by mid 2008.
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