Acquisition of a new primary healthcare centre

RNS Number : 2157Z

The MedicX Fund Limited

13 March 2017

 

For immediate release

13 March 2017

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 Cromer, Norfolk. The property is due to be completed in March 2018.

The acquisition is being made under a new three year framework agreement which provides MedicX Fund the exclusive right to acquire, by way of forward funding, new primary healthcare schemes from Medcentres plc ("Medcentres"), a leading developer of primary healthcare centres.

The completed development will consist 1,147 m² let to the Cromer Group GP Practice and a local pharmacy under leases running for a term of 20 years from practical completion. The completed property is expected to cost £3.75 million. 

The MedicX Fund's total property portfolio now comprises 154 properties throughout the United Kingdom and Republic of Ireland of which 147 are operational and fully let, with seven under construction. The annualised rent roll for all properties is now £37.8 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 Watkins

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 154 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 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 £6 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.

The Company's Legal Entity Identifier is 2138008POF35FTNFCB25.

 

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