GP Surgery Valuation Case Study
– Greenfield Medical Centre, Cricklewood, London
GP SURGERY VALUATION CASE STUDY – As a result of proposed changes to the partnership at Greenfield Medical Centre, practice manager Jacqui Tonge knew that it was important to instruct a surveyor to provide valuation advice relating to their surgery. As Jacqui noted, ‘We were aware of increases in the value of residential properties in the area over recent years, and wanted an impartial view of the value of the surgery so that all the partners could move forward with the proposed ownership changes with confidence’.
From Bryan’s point of view, it was important to ensure that his report provided the practice with an understanding of the approach he had adopted in assessing the value of the surgery ‘ It’s essential that the practice understand the reasoning behind the value reported, as this gives them confidence that the figure reported is fair and reasonable; In this instance, we had to consider the alternative uses for the property in the light of the likelihood that a change of use to such alternatives would be permitted and the costs of conversion to these uses’.
Jacqui felt that it was important to have instructed a firm like Wootten Dean who specialise in the primary care sector ‘Bryan’s experience of working with GP practices and his understanding of the market for GP surgeries was important to us as we sought to establish an agreeable outcome for all parties’.
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.
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