NEW HEALTHCARE CENTRE FOR SWANSEA

A new primary care centre, financed by MedicX Fund and developed by the Healthcare Property Company (HPC) Wales, is to be built in Brynhyfryd, Swansea.The 13,885 sq ft facility will contain a modern reception area, seven consultation rooms, and two treatment rooms and have the facility to carry out minor operations. It is due to be completed in January 2017.The completed property will be let to a GP practice, the Abertawe Bro Mogannwg University Health Board and a pharmacy.All leases will be for a term of 20 years from practical completion and the rent is subject to three-yearly effectively upwards only market rent reviews.MedicX Fund, a specialist primary care infrastructure investor, has contracted to acquire the property by way of forward funding. The total acquisition cost of the property is £3m.The MedicX Fund’s property portfolio now comprises 150 properties throughout the UK and and Ireland of which 143 are operational and let, with seven under construction.