Financial Close For Primary C

RNS Number : 3741W

CareCapital Group plc

18 November 2010

 



18 November 2010

CARECAPITAL GROUP PLC

("CareCapital" or "the Company")

Financial Close for Primary Care Project in West Wirral

CareCapital Group Plc is pleased to announce that it has completed the agreements with the tenants,  funder and construction contractor to enable it to proceed  with the development of its 2,000 Sq m primary care project in Thingwall, West Wirral.

The Project, costing £4.5 million, comprises a medical centre; community health clinics and a pharmacy; and will be fully financed through a forward funding and sale agreement with MedicX, a listed fund specialising in long term investment in primary care real estate in the UK.

Construction works will start at the end of November with a contract completion target of November 2011.

This development is part of CareCapital's current project pipeline of 9 developments in the UK and 2 in Germany.

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

CareCapital Group Plc	Daniel Stewart & Co. Plc	Tavistock Communications
Paul Stacey, Chief Executive	Oliver Rigby	Simon Hudson
Tel: [phone]	Tel: [phone]	Tel: [phone]
[e-mail]	[e-mail]	[e-mail]

~ ends ~

Notes to Editors

CareCapital is a developer and investor in primary healthcare real estate, partnering GPs, dentists and other clinical providers - in the UK and Germany - to develop uniquely tailored, cost-effective and sustainable care facilities.  CareCapital has a current portfolio value of £39.9 million (as at 31 December 2007).

 

END

 

 

AGREAKFXFDLEFFF