The practice team at Lockwood Surgery now has a better understanding of how the Notional Rent review and appeal system works after GP Surveyors worked for them to challenge their Notional Rent figure. Read their case study to learn more.
Lockwood Surgery is a 1990s purpose-built surgery located just south of the centre of Huddersfield, West Yorkshire.
Following a recent District Valuer assessment, they decided to approach GP Surveyors to carry out a survey to assess the possibility of contesting the latest review.
“The increase maintains our Notional Rent on an up-to-date and realistic level”
Practice Manager Colin Drake explains; “This resulted in advice that it is possible to make a challenge and it could be worthwhile for us to do so. The attraction to us was that this was conducted on a no win, no fee basis”.
James Williams was the assigned Surveyor on this case. He explains; “The initial survey and valuation of the premises indicated a difference between our own valuation and the opinion expressed by the District Valuer (DV) of £32,200. Shortly after entering into negotiations with the DV it became apparent that there were some slight differences in floor areas, with the DV adopting a slightly incorrect assessment based mainly upon more historic and outdated records. We corrected the assessment of floor areas and identified additional local evidence which the DV was not aware of at the time of their valuation. Using this evidence, which was drawn from our national database, I was able to demonstrate to the DV that an increase in the initially reported opinion was required.”
“Apart from the financial benefit we think that it has improved our understanding of how the system works”
Through the course of negotiation we were able to increase the DVs offer from £32,200 to £34,700. This was accordingly recommended to the Practice for acceptance.
Colin continues; “The increase we’ve received maintains our Notional Rent on an up-to-date and realistic level with obvious financial benefit to the practice. From our experience we would suggest that all Notional Rent valuations are checked by a specialist Surveyor.”
Colin concludes; “Apart from the financial benefit we think that by instructing GP Surveyors to work for us it has improved our understanding of how the system works”.
We hope you found our Lockwood Surgery case study to be a useful read. To book a review of your Notional Rent please contact us today and we will be happy to help.