MedicX Healthfund continues to fund UK care home construction

Published: 8-Feb-2013

First quarter of 2013 sees further investment in Berkshire and Somerset facilities

MedicX Healthfund, the UK healthcare property investment fund, has acquired two purpose-built care homes as well as committing to funding the construction of a new-build care home in Newbury.

The acquisition trail includes Lavender Court Care Home, a 69-bed care home, with 10 one-bedroom assisted living apartments in Taunton, Somerset, let to Somerset Care.

In Newbury, Berkshire, the forward funding agreement is for the construction of an 80-bed care home at Maple Crescent, which was granted planning consent in October 2012 and, when completed, will be leased and operated by Care UK.

Tim Meggitt, chief operating officer at MedicX, said: “We are delighted to have witnessed such a positive start to the year, with 17 specialist care facilities now within the MedicX Healthfund portfolio, representing a committed investment of £107m.

“Our continued collaboration with quality operators such as Care UK and Somerset Care, clearly demonstrates the founding objective of the Healthfund, that of building substantial and ongoing relationships with leading UK operators to deliver long-term returns to our investors. With a substantial and active pipeline, we anticipate announcing further acquisitions during the first quarter of 2013.

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