Dr Mills, a retired owner of Forty Willows Surgery in Middlesex required a Market Valuation for her GP practice as she wished to sell her share to the practising partners.

Having found GP Surveyors online Dr Mills got in touch. Dr Mills spoke with one of GP Surveyors’ Client Management team who comprehensively explained our Market Valuation service. Our terms of service letter was then sent out, so the Doctor could decide whether to proceed in their own time. Having read all the details, Dr Mills was happy with the service and fees and instructed GP Surveyors.

One of the firm’s highly experienced primary care surveys then inspected the property. The surveyor undertook a ‘Red Book’ Royal Institution of Chartered Surveyors (RICS) Valuation. This is an extensive survey of the practice, including detailed measurements, drawing up of a floor plan and photo documenting the entire interior and exterior of the property. This inspection method is globally recognised and adheres to RICS standards, ensuring accuracy and reliability.

Once the survey was complete, the surveyor sent Dr Mills a detailed report outlining the practice’s value and their reasoning and evidence to support this valuation. With the Market Valuation complete Dr Mills proceeded to sell her share of the practice to the other partners.

Dr Mills stated:

“I am extremely happy with the service I received from GP Surveyors. The level of professionalism was exemplary throughout and I was satisfied with the outcome of the valuation.”

Before proceeding with the disposal or acquisition of any GP practice premises, it is essential to obtain a current Market Valuation. GP Surveyors recommend that a Market Valuation is valid for three months.

Engaging a specialist primary care surveyor for this task is critical, as the valuation criteria for a GP practice differ from those for general commercial properties. To ensure accuracy, the surveyor needs access to comparative data on rental incomes of similar GP practices in the area. Experienced healthcare surveyors will have extensive recent comparative data, which is vital for producing an accurate Market Valuation.

If you require a market valuation for your GP surgery, please contact our friendly team today.