Our Services

District Valuer Assessments

GPS is one of the leading specialists in the primary care property sector. Our highly experienced team of primary care sector experts is trusted by practices nationwide. You can rest assured we always meet the highest standards, as we are regulated by the Royal Institution of Chartered Surveyors.

 

Notional rent 

Notional Rent should be paid to the GP Partners for the provision of Primary Care services from the premises. A Practice’s Notional Rent review should be carried out every three years, normally by the District Valuer (DV) on behalf of the NHS.  If a GP practice’s review is overdue, they should ask the NHS to issue the practice’s CMR1 forms.

It is important that Practices obtain specialist, independent advice to double-check the DVs opinion of a Practice’s Notional Rent (Current Market Rent) reimbursement income.

Despite what some NHS notification letters may state, GP Contractors have a period of 3 years to dispute any aspect of their GP Contract including the Notional Rent. GPS has successfully overturned the three-month timescale that some NHS area teams have sought to impose.

GPS will conduct an onsite inspection and draw upon our unrivalled database of local, relevant, comparable evidence to identify if an appeal is justified. Our experienced RICS Surveyors will then negotiate your Notional Rent reimbursement with the District Valuer to optimise your surgery income. If an uplift in Notional Rent is secured, this is also likely to increase the capital value of the surgery.

GPS has UK-wide coverage and are one of the sector leaders for representing GP contractors. GPS has a proven track record of boosting practice’s income. We pride ourselves on a client-centric approach and you will benefit from our established relationships with the relevant local NHS staff and District Valuers. We operate a success-based fee structure (no win = no fee) where our fee is calculated from the increase generated from the assessment within the NHS Notional Rent notification letter.

 

Rent / Lease review

GPS offers a tailored consultancy service to both GP tenants and Primary Care landlords, offering advice on your GP surgery rent review, lease renewal and new lease negotiation.

We are dedicated to protecting your interests and achieving the best outcome.

The 2013 Premises Cost Directions on leased surgeries and medical centres dictates that a revised rent must be agreed between the tenant and landlord before NHS will instruct district valuers to review the rent reimbursement for the practice.

It is essential therefore, that GP tenants obtain specialist, independent representation to minimise financial risk and to ensure continued rent reimbursement for any revised or new agreement.

 

Market Valuations 

There are many reasons why a valuation of your GP premises may be required; if there is a partnership change, acquisition, or disposal, you’re setting up a new lease, raising finance or you simply want to understand the current value of your property.

We recognise that having an investment in a GP practice is a long-term financial commitment and it is important that you have an accurate understanding of the current value of your medical premises.

Valuing primary care premises is a specialist area of the property market. Our Royal Institution of Chartered Surveyors (RICS) Registered Valuers will conduct a ‘Red Book’ RICS valuation, of your surgery. Our valuations adopt a Market Approach combined with an Investment Approach and this has proven to accord with RICS best practice.

Our valuers will use their vast experience of working nationally to draw upon the wealth of comparable evidence that we hold to ascertain the value of your GP surgery. We will provide you with a full written report, which will detail the value that we have arrived at and the reasons why we believe this to be accurate.

GPS have unfortunately been involved in partnership valuation disputes and arbitrations where the method of valuation has been tested. These cases are a perfect example of the importance of instructing specialist surveyors when valuing primary care property and obtaining an accurate and reliable value of your GP Surgery.

 

Sales and lease back

Sale and Leaseback involves the freehold of the GP premises being sold to an investor and a lease being granted back to the practice partners. The partners continue to occupy the building and provide contracted medical services. The practice will pay a lease rent to the investor and receive a Current Market Rent reimbursement from the NHS.

The purchase price will be arrived at by a specialist valuation, based upon the investment value of the property. This price is calculated by checking and capitalising the notional rent and any other income into the practice such as pharmacy rent.

The option of Sale and Leaseback enables General Practitioners to remain in their current premises without the risks and responsibilities of property ownership, provides partners with flexibility and the possibility of resolving future succession issues easier.

The benefits of Sale and Leaseback

• Firstly, it facilitates equity release, removing the burden of ongoing capital investment.
• Secondly, it can help in attracting new GP partners, as no initial capital investment will be required.
• Thirdly, it enables partners who wish to retire to transfer the lease to a new partner.
• Fourthly, your new landlord will often assist with financing premises improvements.
• and finally, support the ongoing maintenance of the property allowing staff to concentrate on service delivery and patient care.

As independent, specialist primary care agents, GPS will draw upon experience to manage your complete sale and leaseback process while you concentrate on running your practice.

We will ensure your interests are protected as we will deliver the following:

• Firstly, your medical premises will be accurately valued.
• Draft heads of terms in preparation for the lease.
• Manage and secure approval with NHS England (or appropriate body).
• Market the property to specialist primary care investors.
• Negotiate with the investor to achieve the best price for your asset.
• Coordinate with relevant partners (accountants, solicitors and/or tax advisors).
• Provide full project management across the transaction until completion.

Finally, we understand that not one size fits all! To ensure sale and leaseback is a suitable option for you further investigations will be required.

 

If you have any further questions, please contact us and a friendly member of our team will be happy to assist.

Back