Acquisition of new primary healthcare centre

RNS Number : 3017P

The MedicX Fund Limited

05 June 2015

 



For immediate release

5 June 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, is pleased to announce that it has contracted to acquire, by way of forward funding, a new primary healthcare medical centre in Benllech, Anglesey. The property is due to be completed in May 2016.

The acquisition is being made under the framework agreement with General Practice Investment Corporation ("GPI") which was agreed in May 2013.  GPI have a strong pipeline of projects with a number expected to be contracted in the coming year. 

The completed development will be let to a GP practice and the Betsi Cadwaladr University Local Health Board. 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 £2.9 million.

The MedicX Fund's total property portfolio now comprises 142 properties throughout the United Kingdom of which 134 are operational and fully let, with eight under construction. The annualised rent roll for all properties is now £34.0 million.

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For further information please contact:

MedicX Fund                                                                   [phone]

David Staples, Chairman

Octopus Healthcare Group                                               [phone]

Mike Adams, Chief Executive Officer

Mark Osmond, Chief Financial Officer

Buchanan                                                                        [phone]

Charles Ryland/Sophie McNulty

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 142 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 36 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.

 

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