SOLD – Chet Valley Medical Practice, Norfolk

SOLD

Offers Over: £3.8 million

Summary

Investment Summary

GP Practice
• Initial rent: £199,600  per annum
• Patient list size: 9,450
• FTE GPs: 7 GP’s (4 Partners, 3 salaried GPs)
• Freehold
• Lease: Tenants Internal Repairing (TIR)
– Term:  15 years
– Lease commences: On date of completion
– Rent reviews: Every three years, from completion date

Dentist
• Let to Whitecross Dental Care Ltd
• Dentists rent: £78,158.48 per annum
• Rent reviews: 3 yearly RPI reviews
• Lease term: 25 years
– Lease commenced: 2011
– Lease expires: 2nd May 2036

Key Property Features

• Total floor area: 1,183.27 sq m
• Car parking spaces: 74
• Building type: Purpose built in 2011 by the current business partners to BREAM excellent standards

Description

Constructed in 2011 George House is a purpose-build, modern and spacious building, located in the thriving South Norfolk village of Loddon. The property has a total floor area of 1,183.27 square metres and houses Chet Valley Medical Practice and Loddon Dental Practice.

The GP surgery has a current list size of around 8,950 patients, and covers a large geographical area. The catchment area is between the villages of Bramerton, just outside of Norwich, along the A146 Beccles Road, out to Norton Subcourse and Haddiscoe, and southerly to Ditchingham on the Suffolk border. The surgery is a dispensing practice and dispenses to approximately 4,000 patients.

The thriving dental practice on the first floor of the property is let to Whitecross Dental Care Ltd and sees both NHS and private patients.

Floorplan

Click the floorplan to enlarge.

Contact

Rebecca Reynard
Director of Agency and Sales

0114 281 5850
[email protected]

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GP Surveyors gives notice to anyone who may read these particulars as follows:
1. These particulars are prepared for the guidance only of prospective purchasers. They are intended to give a fair overall description of the property but are not indeed to constitute part of an offer or contract.
2. Any information contained herein (whether in text or photographs) is given in good faith but should not be relied upon as being a statement of representation of fact.
3. Nothing in these particulars shall be deemed to be a statement that the property is in good condition or otherwise nor that any services or facilities are in good working order.
4. The photographs appearing in this brochure show only parts and aspects of the property at the time when the photographs were taken. Certain aspects may have changed since the photographs were taken and it should not be assumed that the property remains precisely as displayed in the photographs. Furthermore, no assumptions should be made in respect of parts of the property which are not shown in the photographs.
5. Any areas, measurements or distances referred to herein are approximate only.
6. Where there is a reference in these particulars to the fact that the
alterations have been carried out or that a particular use is made of any part of the property this is not intended to be a statement that any necessary planning regulations or other consents have been obtained and these matters must be verified by any intending purchaser.
7. Descriptions of a property are inevitably subjective and the descriptions contained herein are used in good faith as an option and not by way of statement or fact.
8. All areas quoted are expressed as Net Internal Area (NIA) in accordance with the RICS Code of Measuring Practice 6th Edition and Guidance Note 60.
9. All prices and rents are exclusive of VAT but may be liable at the prevailing rate.