The MedicX Fund Limited Acquisition of new primary healthcare centre (9629M)
October 19 2016 - 6:35AM
UK Regulatory
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RNS Number : 9629M
The MedicX Fund Limited
19 October 2016
For immediate release
19 October 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 Brynmawr, South
Wales. The property is due to be completed in November 2017.
The acquisition is being made under the framework agreement with
General Practice Investment Corporation ("GPI") which was agreed in
May 2013.
The completed development will be let to the Local Health Board
and Bestway Pharmacy. All leases will be for a term of 20 years
from practical completion. The completed property will consist of
1,587 m(2) with an initial passing rent of approximately GBP300,000
per annum, subject to three-yearly effectively upwards only market
rent reviews.
The MedicX Fund's total property portfolio now comprises 153
properties throughout the United Kingdom and Republic of Ireland of
which 146 are operational and fully let, with 7 under construction.
The annualised rent roll for all properties is now GBP37.4
million.
- End -
For further information please contact:
MedicX Fund +44 (0) 1481 723 450
David Staples, Chairman
Octopus Healthcare Group +44 (0) 20 3142 4820
Mike Adams, Chief Executive Officer
Buchanan +44 (0) 20 7466 5000
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 153 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 GBP1 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 GBP6 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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