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Medical Practices and GP Surgeries are a specialist area when it comes to property valuation. Indeed, there are many reasons why a valuation of a Medical Premises may be required; as partnerships change; retiring Doctors seek to sell out and younger doctors seek to buy in; new leases are required to be put in place; raising finance for practice development or simply verifying the Notional Rent being awarded by the District Valuer.
In the case of Market Valuations, our team of surveyors conduct valuations based on the best practice of the RICS and combine both the market and investment approach to deliver accurate reports.
Notional Rent is paid to GP Practice Partners and is reviewed every three years by the District Valuer on behalf of the NHS. It is important to seek specialist independent advice to ensure that your Notional Rent is calculated correctly in order to maximise your Medical Practice's income.
If you are a partner in a Medical Practice in Northern Ireland and require assistance with Market Valuations, Notional Rent, Rent Reviews or Lease Renewals, then contact our Commercial Valuations team to learn more about our experience in assisting Medical Practices to optimise their property.
