Werrington Surgery can now proceed with a redesign of their reception area after GP Surveyors achieved a large increase in their Notional Rent above the District Valuer’s initial figure, read the case study to see how.
Werrington Surgery is located just outside Stoke-on-Trent in Staffordshire. It is a purpose-built surgery.
“We wanted to use the experience of an organisation with a proven track record to achieve a Notional Rent appropriate to the practice size and level of facility”
Peter Bailey is the Practice Manager at the surgery. He explains; “We first heard about GP Surveyors from another local practice that had used the service and had a successful outcome. We decided to proceed because of this and we also wanted to use the experience of an organisation with a proven track record to achieve a Notional Rent appropriate to the practice size and level of facility.”
Paul Conlan was the assigned Surveyor on the case. He explains; “Upon receipt of confirmation from the practice that they wished to challenge the figure, the PCT instructed the District Valuer (DV) immediately. Our discussions progressed swiftly and amicably with the DV. Factual errors of measurement were identified and after inspecting the property again the DV quickly corrected these facts.”
“If the practice decided to activate a Sale and Leaseback agreement the value obtained by the Doctors will be significantly enhanced”
“The main point of contention between us and the DV was the interpretation of the evidence that was available locally, with both parties having different viewpoints, but also showing a willingness to overcome these differences. By formulating and presenting structured reasoning for our viewpoint a resolution was subsequently reached. The increase attained was 20 per cent above the original opinion of value notified to the practice.”
Peter continues; “The increase has meant that a capital programme to redesign the reception can go ahead. Revenue streams have been improved year on year and if the practice decided to activate a Sale and Leaseback agreement the value obtained by the Doctors will be significantly enhanced.”
“By letting GP Surveyors work for us we now have a considerable back payment due and an improved revenue stream of £6,750 per year.”
Peter concludes; “GP Surveyors were very professional throughout and have not pressed for their fee until the PCT had made the back payments and this can take several months.”
We hope you found our Werrington Surgery 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.