Successful Notional Rent reviews deliver significant increases for Chainbridge Medical Partnership

 

Chainbridge Medical Partnership in Newcastle comprises a main surgery and two branch practices. The partnership has been a client of GP Surveyors since 2008, during this time GP Surveyors have carried out multiple successful Notional Rent reviews and provided Market Valuations for the Partners. GP Surveyors’ recent cases have seen further success.

Premises Inspection

Charlotte Wilkinson conducted a comprehensive inspection of the premises, including measuring the property, drawing up a floorplan, photo-documenting the standard of the premises, and confirming the use of all floor space with the practice.

Rent Review Process

After compiling her findings, Charlotte cross-checked the proposed rent figure against GP Surveyors’ extensive database of comparable evidence. This analysis revealed sufficient grounds to challenge the District Valuer’s initial opinion.

Key factors included:

• Low unit rate for the practice property and car parking
• Inaccurate floor areas

Negotiations and Outcome

Charlotte presented her case to the District Valuer, exchanging floorplans, measurements, and evidence.

Following a joint onsite inspection by our Surveyor, Charlotte Wilkinson, and the District Valuer. The District Valuer agreed to an increase in unit rate for the practice and car parking, as well as an adjustment in floor areas from the CMR6 offer.

Charlotte’s efforts resulted in a 5.6% increase in notional rent, amounting to tens of thousands of pounds in additional funding for the practice over the three-year rental period.

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