MedicX Fund has announced that it has contracted to acquire, by way of forward funding, a new primary healthcare medical centre in Crumlin, a suburb of Dublin. The property is due to be completed in January 2017 and will be let to the Health Service Executive, a number of GPs and associated medical service providers. The company says that the GP and Health Service Executive leases will be for a term of 25 years from practical completion with the majority of rent being subject to five-yearly CPI reviews. The total acquisition cost of the property is €8.0 million.
MedicX Fund says that, following the transaction, its total property portfolio comprises 149 properties throughout the United Kingdom and Republic of Ireland of which 143 are operational and fully let, with six under construction. The annualised rent roll for all properties is now £36.2m.
MedicX acquires new primary health centre in Crumlin, Dublin : MXF