MedicX Fund reveals its fifth acquisition in Ireland
Source - SMW
MedicX Fund announced the company's fifth acquisition in Ireland.
Ayrfield Medical Park in Kilkenny is a standing investment and was purchased by way of a sale and leaseback to the doctors who developed the centre in 2011.
In addition to the large GP practice, the 2,700 square metre building is let to the Health Service Executive (the Irish NHS equivalent), a pharmacy operator, a dental practitioner, a cafe and several other complementary healthcare providers.
The GPs and Health Service Executive leases have over 18 years remaining and the pharmacy and dental operators have long leasehold interests.
The rents are subject to five-yearly CPI reviews. The total acquisition cost of the property is approximately €7.8m.
MedicX Fund's total property portfolio now comprises 153 properties throughout the United Kingdom and Ireland of which 147 are operational and let, with six under construction.