Acquisition of new primary healthcare centre

RNS Number : 1636F

The MedicX Fund Limited

25 July 2016

 

For immediate release

25 July 2016

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 Rialto, a suburb of Dublin. The property is due to be completed in April 2018.

The completed development will be let to the Health Service Executive, a pharmacy and associated medical service providers. The Health Service Executive lease will be for a term of 25 years from practical completion with the majority of rent from the building being subject to five-yearly CPI reviews. The total acquisition cost of the property is €8.6 million.

Following this transaction, MedicX Fund's total property portfolio now comprises 152 properties throughout the United Kingdom and Republic of Ireland of which 145 are operational and fully let, with seven under construction. The annualised rent roll for all properties is now £37.1 million.

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For further information please contact:

MedicX Fund                                                                  [phone]

David Staples, Chairman

Octopus Healthcare                                                         [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 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.

 

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