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Have you ever considered selling your practice and leasing it back?
SALES & LEASEBACK
Sale and leaseback enables a GP practice to sell their surgery property to an investor but continue to occupy and practice from the premises. The practice will pay a lease rent to that investor whilst receiving NHS Current Market Rent reimbursement to cover that lease rent.
The increasing size and value of GP surgeries has meant that for some practices property ownership is seen as a burden, not least because the scale of borrowing required to buy into practice premises can become an obstacle to prospective GP partners. Because of this issue and succession planning many practices are now choosing to sell their practices and lease them back.
The approval of NHS England is required in advance of any sale and leaseback transaction and the current economic landscape within the NHS requires a practical knowledge of the terms of a proposed lease which are likely to be acceptable to the NHS.
We are, of course, aware that the sale of GP premises can be a sensitive issue and one which needs to be handled discreetly at times. We will also work closely with our clients to “vet” potential purchasers as the highest bidder will not always necessarily be the preferred landlord.
BW Healthcare Surveyors has a comprehensive understanding of this process and is well placed to ensure that practices receive best value in such a transaction.
We will manage the whole process from start to finish to ensure that the transaction progresses as smoothly as possible with the best outcome for the practice. This will include; initial valuation advice, preparing Heads of Terms for the lease, seeking NHS approval of the Heads of Terms (as well as the lease), marketing the property, negotiating with potential investors and liaising with solicitors until successful completion of the transaction.
Our fees for a Sale and Leaseback service are highly competitive. We understand that our clients require a personal professional service which identifies the relevant features of their premises, but also take account of the complex environment of primary healthcare.