MedicX buys primary healthcare centre in Dublin

MedicX Fund, 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 EUR8.6 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 GBP37.1 million.

MXF : MedicX buys primary healthcare centre in Dublin