GP Surgery Valuation Case Study
– Chigwell Medical Centre, Ilford, London
GP SURGERY VALUATION CASE STUDY – Proposed partnership changes at Chigwell Medical Centre meant that practice manager Renier Van Zyl was tasked with instructing two firms of independent surveyors to provide valuation advice regarding their surgery premsies in the light of a pending GP retirement;
“It was important to the partnership that we had a high degree of confidence in the valuers providing us with advice; throughout the process we were aware that their recommendations would have a significant financial impact on individual partners, so we knew the valuations needed to be accurate.”
Renier chose two firms who specialised in advising GP practices within the NHS primary care sector rather than relying on local valuers and believes that this was the correct approach:
“It is clear to the partners and me that both firms had a genuine understanding of GP surgery valuation work. I am aware of the difficulties created in situations similar to ours where there is a significant disparity between valuations given by different firms. I think that by appointing valuers who specialise in this type of work we have been able to avoid this scenario. This has been extremely helpful as we manage our partnership changes.”
One of the firms chosen was Wootten Dean. Reflecting on the advice given by Wootten Dean, Renier appreciated Bryan’s expertise in the sector which underpinned the advice given;
“Bryan’s report was particularly thorough and clearly communicated the approach to the valuation of our surgery and the factors affecting the value of our surgery. This gave us a high level of confidence in the opinion of value included in the report. I would have no hesitation in instructing Bryan to undertake future valuation work for the practice”.
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Wootten Dean is an established property consultancy led by Bryan Wootten who has over 15 years of experience as a valuer and general practice surveyor. Bryan is an RICS Registered Valuer who deals with a range of property types and has a special interest and focus on the NHS primary care environment.