Acquisition of a new primary healthcare centre

RNS Number : 9026W

The MedicX Fund Limited

20 November 2017

 

For immediate release                                                                                    

20 November 2017

MedicX Fund Limited

("MedicX Fund", "the Fund" or "the Company")

Acquisition of a 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 near Glynneath in the Vale of Neath, South Wales.  The property is due to be completed in September 2018.

The acquisition is being made under the framework agreement which provides MedicX Fund the right to forward fund new primary healthcare schemes from Healthcare Property Company Ltd ("HPC"), a leading developer of primary healthcare centres. Following their schemes in Thingwall, Buckley and Brynhyfryd, this is now the fourth project the HPC team has brought to MedicX Fund since 2012.

The net floor area of the completed development will be 1,536 m² which will be let to the Abertawe Bro Mogarnnwg University Health Board, the Vale of Neath Practice and a local pharmacy. All leases run for a term of 20 years from practical completion and the completed property is expected to cost £4.6 million. 

MedicX Fund's total property portfolio now comprises 152 properties throughout the United Kingdom and Ireland of which 146 are operational and let, with six under construction.

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For further information please contact:

MedicX Fund                                                                   [phone]

David Staples, Chairman

Octopus Healthcare Group                                               [phone]

Mike Adams, Chief Executive Officer

Buchanan                                                                        [phone]

Charles Ryland/Vicky Hayns

Information on MedicX Fund Limited

MedicX Fund Limited (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 152 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 £1.1 billion of healthcare investments across a number of platforms, with a focus on five core areas: GP surgeries, care homes, special education schools, 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 £7 billion of funds for more than 50,000 retail and institutional investors as well as supplying energy to more than 100,000 customers

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.

The Company's Legal Entity Identifier is 2138008POF35FTNFCB25.

 

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