Having been recommended GP Surveyors by a local surgery, Zadie Hartwig (Practice Manager, Salisbury House Surgery), contacted us regarding her surgeries forthcoming Notional Rent Review.
Zadie had not been part of a Notional Rent Review before and was seeking advice regarding how the process worked and how we could help the surgery. Having spoken to our Account Manager Paul Hardman, Zadie opted to instruct us to assess the surgery.
One of our Senior Surveyors Chris Kozlowski visited the surgery and carried out a full inspection. Chris then compiled a report and compared this evidence with like for like surgeries in the area, concluding that there was a case to challenge the initial Notional Rent figure.
The case for an increase was based upon a number of factors, including;
- Property type – Low unit rate
The surgery was built in the early 1990s and is a purpose-built surgery, therefore we believe the surgery should be placed more in line with other purpose-built surgeries of the same quality.
- Inaccurate floor areas
Upon inspection Chris found the initial Notional Rent figure to be based on floor areas that were lower than the actual floor areas.
- Low value placed on car parking spaces
When compared to like for like surgeries in the area, Chris found the initial unit rate to be low.
Chris then began negotiations with the District Valuer to increase the surgeries Notional Rent reimbursements. Drawing upon our vast database of local comparable evidence, Chris was able to successfully negotiate an increase of 27.78% above the initial Notional Rent valuation. This increase resulted in a significant boost to the surgeries annual income and in turn, increased the surgeries value.
Here’s what Zadie Hartwig, Practice Manager, had to say about our service;
“I can’t recommend this company highly enough. I have had an excellent experience with this company – they talked me through every aspect of the process, answered all my questions and the end result was more than I was expecting. Well done GP Surveyors – Fantastic work.”
We hope you have found our Salisbury House Surgery case study useful, to see our full range of Notional Rent case studies click here.