Completion of Medical Centre Development

RNS Number : 3403X

CareCapital Group plc

14 February 2012

 



 

 

14 February 2012

CARECAPITAL GROUP PLC

("CareCapital", "the Group" or "the Company")

Completion of The Warrens Medical Centre, Wirral

CareCapital (AIM: CARE) is pleased to announce the completion of The Warrens Medical Centre in Thingwell, Wirral.  The building has a gross internal floor area of 2,028 sq m with 98 parking spaces and is valued at some £5 million.  It houses The West Wirral Group Practice, Wirral NHS Community Trust and a pharmacy.  The centre was forward sold in November 2010 to MedicX Fund Limited, the specialist primary care infrastructure investor.

CareCapital was appointed preferred developer in early 2008 following a competitive tender advertised in the Official Journal of the European Union.  A protracted planning process saw permission granted in October 2009 with construction commencing in December 2010 and completing in January 2012.

The Warrens Medical Centre formed part of the Company's medical centre development pipeline which now comprises a medical centre, pharmacy and related ancillary areas in Allesley, Coventry; a medical centre in Bishops Stortford, where construction will commence this year, and four medical centres in Wales that are part of CareCapital's joint-venture with Gaufron Healthcare, of which Buckley and Swansea will also see construction commence this year.

It is intended that the majority of these projects will be subject to forward funding and sale arrangements.

In addition, as reported in the Trading Update announced on 31 January 2012, the Group continues to investigate additional innovative, but proven, cancer treatments in addition to its 28.75% shareholding in Advanced Proton Solutions (Holdings) Ltd - the company that is pioneering the use of Proton Beam Therapy in the UK and which has secured planning approval for its first London based centre off Moorgate in the City of London, within easy access of a number of London's major hospitals. 

For further information please visit www.carecapital.co.uk or contact:

Mike Sinclair, Chairman Paul Stacey, Managing Director	Sandy Jamieson	Jon Levinson	Simon Hudson,
CareCapital Group Plc	Libertas Capital Corporate Finance Limited	Rivington Street Corporate Finance	Tavistock Communications
	(NOMAD & Joint Broker)	(Joint Broker)	(Financial PR & IR)
020 7034 1949	020 7569 9650	020 7562 3357	020 7920 3150

~ ends ~

 

END

 

 

MSCEAXADFELAEFF