23 Dec 2015 09:11
For immediate release
23 December 2015
MedicX Fund Limited
("MedicX Fund", "the Fund" or "the Company")
Acquisition of new primary healthcare centre
MedicX Fund, (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 Crumlin, a suburb of Dublin. The property is due to be completed in January 2017.
The completed development will be let to the Health Service Executive, a number of GPs and associated medical service providers. The GP and Health Service Executive leases will be for a term of 25 years from practical completion with the majority of rent being subject to five-yearly CPI reviews. The total acquisition cost of the property is €8.0 million.
Following this transaction, MedicX Fund's total property portfolio now comprises 149 properties throughout the United Kingdom and Republic of Ireland of which 143 are operational and fully let, with six under construction. The annualised rent roll for all properties is now £36.2 million.
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For further information please contact:
MedicX Fund +44 (0) 1481 723 450
David Staples, Chairman
Octopus Healthcare Group +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 and Ireland, listed on the London Stock Exchange, with a portfolio comprising 149 properties.
The Investment Adviser to the Company is Octopus Healthcare Adviser Ltd, which is authorised and regulated by the Financial Conduct Authority and is a subsidiary of the Octopus Healthcare Group. The Octopus Healthcare Group is a specialist investor, developer and manager of healthcare properties with 38 people operating across the UK.
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.