Do you have partners approaching retirement? Are you having issues with partnership recruitment? Would you like to release equity from your practice?
“Sale and Leaseback has allowed Friarwood Surgery to thrive: the equity owning partners profited financially from the sale, and recruitment issues have been reduced due to new partners not having to buy into the property.”
– Kevin Duggan, Practice Manager, Friarwood Surgery, Pontefract
Sale and Leaseback is where the freehold or leasehold of the GP premises is sold to an investor and a lease is granted back to the practice partners for them to continue to occupy the building and provide contracted medical services. The purchase price will be arrived at by a specialist valuation, based upon the investment value of the property. This is calculated by checking and capitalising the notional rent and any other income into the practice such as pharmacy rent.
The option of sale and leaseback enables General Practitioners to remain in their current premises without the risks and responsibilities of property ownership, offering increased flexibility, with the opportunity to deal with future succession issues.
Sale and Leaseback will facilitate equity release, removing the burden of ongoing capital investment. It helps attract new GP partners as no initial capital investment will be required. It enables partners who wish to retire to transfer the lease to a new partner.
Your new landlord will often assist with financing premises improvements and support the ongoing maintenance of the property allowing staff to concentrate on service delivery and patient care.
As independent, specialist primary care agents, GP Surveyors will draw upon over 17 years of experience to manage the complete sale and leaseback process.
We will ensure your interests are protected by delivering the following:
- Your medical premises are accurately valued
- Draft heads of terms in preparation for the lease
- Manage and secure approval with NHS England (or appropriate body)
- Market the property to specialist primary care investors
- Negotiate with the investor to achieve the best price for your asset
- Coordinate with relevant partners (accountants, solicitors and/or tax advisors)
- Provide full project management across the transaction until completion
Not one size fits all! Every property is different, further investigations will be required to ensure sale and leaseback is a suitable option for you.
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