Family Medical Centre receives a significant increase in Notional Rent.
GP Surveyors have worked for the Family Medical Centre since 2006, carrying out a number of Market Valuations and Notional Rent reviews. Elizabeth Pain, the surgeries Practice Manager, contacted GP Surveyors in 2018, to check the surgeries latest Notional Rent figure. Once Elizabeth spoke with Paul Hardman, one of our specialist Client Managers, she instructed us to check her practices Notional Rent figure.
One of our highly experienced Senior Surveyors, Clare Kersey was allocated the case and set to work. Clare scheduled a visit to the surgery to meet Elizabeth and carry out a full inspection of the premises to gather further information.
Clare compared her findings against our vast database of evidence, comparing the surgery with like for like surgeries in the area. Clare found there to be sufficient evidence for GP Surveyors to put forward a strong case to challenge the District Valuers’ initial Notional Rent figure. Clare compiled her report to substantiate the case for an increase in surgeries Notional Rent and sent this to the DV.
Clare’s case was based on the following factors:
- Inaccurate floor areas
Upon inspection, Clare found the initial Notional Rent figure to be based on ground floor areas that were lower than the actual floor areas.
- Low unit rate
Clare put forward the case that the surgery should be placed in line with other comparable purpose-built surgeries, with extension, in the area.
Having presented her case, Clare then began negotiations with the District Valuer to increase the surgeries Notional Rent reimbursements. Drawing upon our vast database of local comparable evidence, Clare was able to successfully negotiate the surgery an increase of 12.64% above the initial Notional Rent valuation. This increase resulted in a significant boost to the surgery’s annual income and in turn, increased the surgery’s value. Elizabeth and the practice were very pleased with the outcome the GP Surveyors team delivered.
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