GP Surveyors negotiated a massive increase in Notional Rent after the Urmston Group Practice instructed us to see if they were on a fair level of rent, read their case study to see how our surveyors achieved such result.
The Urmston Group Practice is located in a pair of semi detached converted properties in Urmston, Lancashire.
Peter Clough is the Finance Manager. He explains; “We decided to use GP Surveyors to see if we could obtain any additional income.”
“The District Valuer had excluded certain areas that were supposed to be included, such as corridors”
Ryan Stevens was the assigned Surveyor to the case. He explains; “Internally some refurbishment works had been undertaken meaning the values could be looked at. The District Valuer (DV) had excluded certain areas that were supposed to be included, such as corridors etc, which after a short e-mail exchange she was willing to include. At the meeting we discussed the areas that were remaining, and the DV agreed to adopt my areas.”
“The increase we have received means valued additional income into the practice”
Ryan continues; “With regards to the unit rate, after negotiations it was agreed that the DV had initially valued this property too low. I secured an increased figure that was good, given the internal specification of the property. There was only 1 car parking space, and due to the property fronting a main road, it was also agreed that my car parking rate should be adopted.”
Through Ryan’s negotiations, The Urmston Group Practice received an increased from £28,200 to £34,950 per annum; an increase of £6,750 a year.
Peter Clough continues; “Other GP surgeries should challenge their District Valuer valuations just in case they are being underpaid. The increase we have received means valued additional income into the practice”.
We hope you found our Urmston Group Practice case study to be a useful read. To book a review of your Notional Rent please contact us today and we will be happy to help.