Middlesex practice benefits from Notional Rent review, again!
GP Surveyors first worked for Middlesex practice, Glendale Medical Centre in 2014 and we have conducted their Notional Rent reviews ever since. When the practice received their latest Notional Rent figures from NHS England they got in touch with GP Surveyors straight away to check if an increase could be secured again.
The practice were then allocated one of our highly experienced Client Managers who talked the partners though GP Surveyors Notional Rent review process. The partners were once again happy to instruct us and proceed with their review.
Premises inspection
Our Client Manager duly organised for one of our Senior Surveyors, Charlotte Wilkinson, to visit the surgery and begin the practice’s Notional Rent check. Charlotte visited the surgery and carried out a full inspection, including measuring the property in full, drawing up a floorplan, photo-documenting the standard of the premises and confirming the use of all the floor space with the practice.
Checking the practices Notional Rent
On her return to the office, Charlotte 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 GP practice evidence to ascertain if the surgery had a case to challenge the District Valuers (DV) Notional Rent valuation. When comparing The Glendale Medical Centre with similar premises in the locality, she found there to be sufficient evidence to move forward with a challenge to the DVs initial opinion of the surgery’s Notional Rent.
The challenge was based on the following factors:
- Low unit rate (£ per sqm) in comparison to practices in the locality
- The number of practice car parking spaces eligible for reimbursement
- Car parking rate (£ per space) in comparison to practices in the locality.
District Valuer Negotiations
Once Charlotte had compiled her case, she sent her valuation to the DV to begin negotiations. Floorplans, measurements, and evidence were exchanged, and Charlotte was able to successfully negotiate a fantastic increase of 6.62% above the DVs initial Notional Rent valuation.
The partners were incredibly pleased that GP Surveyors had once again secured the practice an increase in Notional Rent:
“We’ve used GP surveyors a number of times to challenge the notional rent assessments on our premises and they have managed to obtain an additional uplift on each occasion, suggesting that they clearly understand the market. As a practice we had to do very little, as GP surveyors took over all the negotiations with NHSE, and their fees are only charged based on a successful outcome! For these reasons we would recommend GP surveyors to any practice who has just received a notification of notional rent review.”
The increase Charlotte secured resulted in a fantastic boost to the practice’s annual income and in turn is highly likely to have increased the investment value of the property.
Review your practices Notional Rent
We hope you have found our Middlesex Notional Rent Review case useful, see our full range of Notional Rent case studies 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.