10 Feb 2016 07:00
For immediate release
10 February 2016
MedicX Fund Limited
("MedicX Fund", "the Fund" or "the Company")
Acquisition of a new primary healthcare centre
MedicX Fund Limited, (LSE: MXF), the specialist primary care infrastructure investor in modern, purpose-built, primary healthcare properties in the United Kingdom and Ireland, is pleased to announce that it has contracted to acquire, by way of forward funding, a new primary healthcare medical centre in Brynhyfryd, Swansea. The property is due to be completed in January 2017.
This acquisition is being made under a new framework agreement with The Healthcare Property Company Limited ("HPC"). HPC have a pipeline of other potential schemes which may be contracted later this year.
The completed property will be let to a GP practice, the Abertawe Bro Mogannwg University Health Board and a pharmacist. All leases will be for a term of 20 years from practical completion. The rent is subject to three-yearly effectively upwards only market rent reviews. The total acquisition cost of the property is £3.0 million.
The MedicX Fund's total property portfolio now comprises 150 properties throughout the United Kingdom and Ireland of which 143 are operational and let, with seven under construction. The annualised rent roll for all properties is now £36.4 million.
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For further information please contact:
MedicX Fund +44 (0) 1481 723 450
David Staples, Chairman
Octopus Healthcare +44 (0) 1483 869 500
Mike Adams, Chief Executive Officer
Buchanan +44 (0) 20 7466 5000
Charles Ryland/Vicky Watkins
Information on MedicX Fund Limited
MedicX Fund Limited ("MXF", "MedicX Fund", "the Fund" or "the Company", or together with its subsidiaries, the "Group") is the specialist primary care infrastructure investor in modern, purpose-built primary healthcare properties in the United Kingdom, listed on the London Stock Exchange, with a portfolio comprising 150 properties.
The Investment Adviser to the Company is Octopus Healthcare Adviser Ltd, which is part of the Octopus Healthcare group. Octopus Healthcare invests in and develops properties as well as creating partnerships to deliver innovative healthcare buildings to improve the health, wealth and wellbeing of the UK. It currently manages over £1 billion of healthcare investments across a number of platforms, with a focus on four core areas: GP surgeries, care homes, retirement housing and private hospitals. Octopus Healthcare is part of the Octopus group, a fast-growing UK fund management business with leading positions in several specialist sectors including healthcare property, energy, property finance and smaller company investing. Octopus manages £5.5 billion of funds for more than 50,000 retail and institutional investors.
Octopus Healthcare Adviser Ltd is authorised and regulated by the Financial Conduct Authority.
The Company's website address is www.medicxfund.com. Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website), nor the contents of any website accessible from hyperlinks within this announcement, are incorporated into, or forms part of, this announcement.