First Notional Rent review a great success
GP Surveyors recently had the pleasure of working with Annfield Plain Surgery in Stanley, County Durham, on their Notional Rent review. Practice Manager Christine Serifoglu sought our expertise to ensure their rent was in line with neighbouring practices.
Our Director of Surveying, Clare Kersey, took the lead on this case. Clare’s objective was clear, to ascertain if Annfield Plain had received a fair rental offer from the District Valuer. And she did just that!
Inspection of the Premises
The first step in the process was a detailed inspection of Annfield Plain Surgery. Clare took comprehensive measurements of the entire building and photo-documented every aspect of the premises. This thorough approach ensured that no detail was overlooked and provided a solid foundation for the review.
Comparable Evidence
On her return to the office, Clare compiled all her findings from the inspection. She then cross-checked the practice’s proposed notional rent figure against GP Surveyors’ vast database of comparable evidence, of similar practices in the locality. This step is crucial to ascertain if the surgery had a case to challenge the District Valuer’s notional rent valuation. By comparing similar premises in the locality, Clare identified several factors that formed her challenge of the District Valuers valuation. Armed with this information, Clare began her negotiations with the District Valuer.
Negotiations
With all the necessary comparable data in hand, Clare engaged in detailed negotiations with the District Valuer.
The discussions were focused on three factors:
- Floor Areas – increasing the area eligible for rental reimbursement
- Unit Rate – increasing the price per square metre the practice receives
- Car Parking rate – increasing the price per car parking space the practice is reimbursed.
The Result
Clare successfully negotiated an increase in the floor areas eligible for notional rental reimbursement. This meant that more of the surgery’s space was recognised as being eligible for reimbursement.
She also secured an upward adjustment to the floor and car parking unit rates for the surgery, aligning it with practices in the area.
Thanks to Clare’s expertise and persistence, GP Surveyors achieved a fantastic outcome for Annfield Plain Surgery. Their Notional Rent was increased by an impressive 9.8%! The surgery now receives a fair rent when compared to neighbouring practices.
This successful negotiation highlights GP Surveyors commitment to delivering exceptional value to our clients. With Clare Kersey’s expert negotiation skills and GP Surveyors’ unrivalled comparable evidence, Annfield Plain Surgery received a significant boost to their income.
Review your GP practices Notional Rent
We hope you have found our County Durham GP practice Notional Rent case useful, see practices case studies from your area here.
If you would like GP Surveyors to carry out a Notional Rent review for your practice, or you have any further questions please contact our team today.