With many GP practices struggling to recruit new partners and many GPs taking early retirement, GP practice Sale and Leaseback is fast becoming the solution of choice for partnerships having to make decisions about their property.
What is a GP practice Sale and Leaseback?
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 the surgery continues to provide its contracted medical services.
How can Sale and Leaseback help alleviate GP practice succession issues?
Navigating partnership change and recruiting new partners are major issues facing many surgeries today and can prove to be complex obstacles to overcome. The good news is, the Sale and Leaseback of your surgery could alleviate these issues, as;
- new partners don’t have to buy into the property, thus reducing your surgeries recruitment issues
- existing owning partners can release their equity from the premises
- partners could have more flexibility over their retirement age, without the complications of selling their share.
- Should your practice accept a direct offer to purchase your surgery?
Your surgery may have received a direct offer from a private company looking to purchase your premises. While this may seem like an attractive proposition, there are additional benefits to putting your property on the open market with a specialist primary care agent and letting them manage the Sale and Leaseback of your surgery.
The additional benefits of a managed sale & leaseback service, include;
- the prospect of a higher sale price being obtained on the open market – the market is currently buoyant as there is high demand and short supply
- putting a lease in place that guarantees your NHS income covers your rental outgoings, with lease terms that are practice led not private company led
- the entire Sale and Leaseback process is managed for you; from inspection meeting, through to completion, with the aim of securing your surgery the best price for the property.
If your GP practice is considering the Sale & Leaseback of your surgery, the healthcare property market is currently very buoyant as there are a high number of investors actively looking to purchase and a short supply, making this a favourable time to sell.
For more information on our Sale and Leaseback service and to get in touch see our service page.
What our clients say: (Kevin Duggan, Practice Manager, Friarwood Surgery)
“Sale and Leaseback has enabled our surgery to thrive: the equity owning partners profited financially & recruitment issues have been reduced, due to new partners not having to buy into the property”
Your Guide to GP Property & Retirement
Whether you are fast approaching retirement or just have an eye on the future, it pays to know the options available to you regarding your practice property. Please fill in a few details and your guide will download.