Woodbrook Centre case study
Woodbrook Medical Centre in Loughborough called upon GP Surveyors services when they felt the Notional Rent figure provided by the District Valuer at their last review was too low. Read their case study to find out how we helped achieve a great increase.
Woodbrook Medical Centre in Loughborough is a training practice which is located within a converted building that has had an extension.
Simon Bardsley is the Practice Manager. He explains; “I was first contacted by one of GP Surveyors representatives several years ago, but at the time the Partners were happy with the level of Notional Rent as the PCT had just agreed a substantial increase. We kept their details on file for future reference and kept in contact with the team until our latest review came up.”
“The increasing pressure on surgery finances meant that we needed to look at every way possible to increase income levels”
“We decided to use GP Surveyors because the increasing pressure on surgery finances meant that we needed to look at every way possible to increase income levels, and the offer of a “no increase-no fee” arrangement meant we had nothing to lose.”
“The whole process went very smoothly with very little work required by myself”
Ryan Stevens was the assigned Surveyor who negotiated the increase for the practice. “All in all this was a straight forward case. The areas were agreed beforehand as I had spoken to the District Valuer in order to move the process on faster. The District Valuer started the negotiations with a value which was significantly under the level of values being set by comparable properties. We arranged a meeting and within that meeting negotiated an increase which gave the practice a 22% uplift in their Notional Rent.”
Simon continues; “The increase will help us to maintain income levels and reduce the pressure on our finances. We have achieved a substantial increase which will not only help with our current situation but should help to ensure that future valuations are correct.”
“If I could provide any advice to other practices I would say that PCTs are constantly under similar financial pressures and are not likely to volunteer an increase without being challenged.”
Simon concludes; “Overall the whole process went very smoothly, with very little work required by myself.“
We hope you found our Woodbrook Medical Centre case study useful, if you would like GP Surveyors to carry out an assessment of your Notional Rent, please contact us.