Narrowcliff Surgery – Newquay, Cornwall
The Narrowcliff Surgery had been on Cost Rent since the premises was completed in 1995. They recently requested a Notional Rent figure from the PCT which GP Surveyors challenged on their behalf:
The Narrowcliff Surgery is located in Newquay, Cornwall. It is a two-storey purpose-built surgery with a patient list size of 10,800. They have a pharmacy onsite which is rented out to a local company.
The practice approached GP Surveyors after requesting a Notional Rent figure which they felt was too low.
“Other GP Surgeries should challenge the District valuer’s valuation as they have nothing to lose financially and everything to gain”
The practice had been on Cost Rent since the premises were completed in 1995. They received £64,842 per annum on the Cost Rent scheme, but wanted to know whether it would be beneficial for them to move onto Notional Rent.
The PCT initially provided a Notional Rent figure of £58,500 which was provided by the District Valuer. GP Surveyors took up negotiations on behalf of the practice and was able to achieve an increase in the District Valuer’s figure to £71,000 per annum.
“GP Surveyors really did provide a pain free, win win solution”
Susan Beadle is the Practice Manager at the Narrowcliff Surgery. She explains; “We decided to use GP Surveyors as the partners agreed to the ‘free’ no charge upfront option.”
“The increase we have received means an increase in the practice revenue. Other GP surgeries should challenge the District Valuer’s valuation as they have nothing to lose financially and everything to gain. GP Surveyors really did provide a pain free win win solution.”
Through GP Surveyors skilled negotiation it meant that the funding that the practice will receive under the Notional Rent Scheme was enhanced by 8% from the Cost Rent. The total gross financial benefit will be £18,474 over the three year period.
“If the practice receives Cost Rent the onus falls with that practice to request Notional Rent reviews from the PCT”
Practices that are on Cost Rents therefore need to check if they have had the appropriate review in the past or if any current reviews are outstanding. If the practice receives Cost Rent the onus falls with that practice to request Notional Rent reviews from the PCT.
GP Surveyors can ensure that this is checked for the Surgery on an ongoing basis as part of the comprehensive services that we provide to Practitioners.
If you’d like advise on moving from Cost Rent to Notional Rent, please contact us on 0114 281 5850 or email email@example.com