Our healthcare department has carried out valuations of medical centres and associated property for over twenty years.
As panel valuers for most major lenders in the GP surgery market we have reported on practice premises throughout The North of England, Midlands, East Anglia and also in Wales. Valuations for partnership change are also regularly carried out in those areas. The valuation of GP premises requires specialist knowledge. Not only of the current sales market, which is vital, but also the likely suitability of the property for future GMS needs including the ability to extend the property if needed. The effect (for example) of abated reimbursement as a result of Deanery Grants or similar being obtained, and the availability or otherwise of alternative use at the point where the building is no longer suitable as a surgery.
MAXIMISE YOUR NOTIONAL RENT
Notional Rent (or Current Market Rent) is reassessed each third year by the District Valuer, currently on behalf of local the PCT. In many cases practitioners find the suggested reimbursement to be inadequate. Mark Jenkinson and Son have carried out many NR appeals throughout The North of England, Midlands, East Anglia and also in Wales. We have in each case achieved an increased rent. Competitive fees are based on a fixed % of the increase negotiated. A nil increase would involve no fee.
GP SURGERY INVESTMENT SALES
In relatively recent years a significant market has developed as third party investors seek to purchase GP surgeries. Under such arrangements the Practice enters into a long occupational lease, often 20 / 25 years. The rent paid to the new owner is equivalent to Notional Rent reimbursement as agreed with the District Valuer, subject to adjustments for varying repair liabilities. Sales are arranged either on the open market or privately should the client prefer. Mark Jenkinson and Son have successfully sold or acquired on behalf of clients in respect of a number of GP properties, and enquiries are invited from either buyers or sellers.
The valuation of dental premises is a specialist matter. They are valued on an entirely different basis from GP property. The Healthcare Department of Mark Jenkinson and Son has reported on values of many such properties over a wide geographical area acting for the major funders, or buyers / sellers. Please contact us to discuss your specific requirements which will enable us to provide a fee quote.
Pharmacy locations are in effect "licensed" which often serves to reduce competition and enhance values. The valuation of pharmacy property requires an understanding of how the limits work. Pharmacies are usually situated either in "High Street" locations or close by or attached to GP surgeries. Valuation methods differ with reference to the type of location. Those close to GP surgeries are valued by methods which are not applicable to any other form of property and often enjoy higher than anticipated values. Mark Jenkinson and Son has carried out many capital valuations and also rental negotiations / valuations in respect of this individual type of property. Advice and fee estimates are available on request.
CARE HOMES/EXTRA CARE VILLAGES:
As the population of the country grows there is an expectation that the percentage of older people will increase therefore the demand for care will rise, and this will need to be catered for, the concept of care villages is becoming popular with many new schemes being set up across the country.
We can advise on the potential of setting up care homes/extra care villages. Advice on planning, through to completion.
Please contact us with your ideas, advice and fee quotes will be available on request.