Bretton Medical Practice have upgraded their reception area and made improvements to their telephone system after GP Surveyors achieved an 18% increase on their Notional Rent above the District Valuer’s initial offer.
The Bretton Medical Practice is located near Peterborough, Cambridgeshire. The purpose-built surgery has been extended over the last 30 years and now has a patient list size of 13,500.
“We felt that the initial valuation was well short of our expectations and that we should proceed with an alternative valuation”
Steve Robertson is the Practice Manager and first heard about GP Surveyors from another Practice Manager. He explains; “We felt that the initial valuation was well short of our expectations and that we should proceed with an alternative valuation. We hoped to achieve a higher, fairer valuation which reflected the building more accurately and wished to have a comparison figure, rather than just accept the one given to us initially.”
James Williams was the assigned Surveyor to this case. He explains; “Initial investigations indicated a significant variance between our own valuation and the opinion expressed by the District Valuer (DV) of £120,500. Shortly after entering into negotiations with the DV it became apparent that large areas of circulation space had been excluded incorrectly and the value adopted by the DV did not reflect the internal condition of the premises, based on the comparable evidence we identified.”
“The increase has helped with practice cash flow issues in a time when income into the practice is vital for any future investment in services, staff and patient needs”
“Through the course of negotiation we were able to increase the DVs offer from £120,500 to £142,500 meaning an increase of 18 per cent, which the Practice instructed us to accept on their behalf to conclude matters.”
Steve continues; “The increase has helped with practice cash flow issues in a time when income into the practice is vital for any future investment in services, staff and patient needs. We used the increase to upgrade our reception area and make improvements to our telephone system.”
Steve concludes; “Other GP practices should challenge their valuation as it is important to ensure they maximise their income and streamline their expenditure wherever possible. It is good business sense never to accept the first quote and strive to get the best possible price. We would be happy to encourage other practices to consider using GP Surveyors if they feel their practice has been undervalued.”