NOTIONAL RENT REVIEWS
Notional Rent (also known as Current Market Rent) is assessed every 3 years by the District Valuer on behalf of the NHS. As a GP Surgery, you need to ensure that the amount you are receiving is fair and accurate.
The basis of valuation is set out within the Premises Cost Directions issued by the NHS and Surveyors undertaking these valuations need to be very familiar with these Directions as they form the basis of the valuations and the procedures around them.
Before lodging an appeal with the NHS, a thorough and professional review of the figures and calculations at an early stage can easily identify whether a Notional Rent appeal is required. For instance in some cases, mistakes in measurement and car parking space allocation can lead to incorrect assessments while in other cases (or indeed both) the valuation rates can be unreasonably low. We will inspect and measure the property in order to form an opinion of value and if we consider the Notional Rent to be incorrect, we will contact the necessary NHS department to instigate a Notional Rent appeal on the practice’s behalf. There is no requirement to pay any fee up front.
As specialist GP Surveyors, BW Healthcare Surveyors team have considerable experience helping GP Practices secure increases in their triennial Notional Rent reviews. We pride ourselves on our no nonsense approach and competitive performance related fee structure.
If we are unsuccessful in achieving an increase for a GP Practice through our negotiations then we won't charge a fee. In short, there is no risk for a practice in allowing us to look at their Notional Rent assessment.