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MedicX invests in South Wales

MedicX invests in South Wales – MedicX Fund 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 m(2) 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 GBP4.6 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.

HPC’s website says that “This impressive scheme will relocate the Glynneath Practice, D.R. Cecil Jones pharmacy and Health Board Services into a new property on a Welsh Government regeneration site. The proposal has recently gained full planning permission and work is scheduled to commence on site in the next few months

MXF : MedicX invests in South Wales

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