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Sale and Leaseback is where a GP surgery is sold to a third party (often an investment company which specialises in the sector) and then leased back to the practice, typically for around 10-20 years. The practice will continue to occupy the building and provide contracted medical services.
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. This is why sale and leaseback is fast becoming the solution of choice for partnerships to resolve issues such as succession planning and recruitment.
Firstly, strategic advice to include marketing price and options will be prepared by one of our specialist primary care surveyors following an inspection of the practice and initial meeting with the client. The marketing price will be based upon investment value of the property.
We will then draft the heads of terms for the proposed lease, through initial discussions with the partnership and drawing upon our experience and knowledge of undertaking sale and leasebacks within the primary care sector.
Ensure the heads of terms (or draft lease depending on local NHS area procedures) are agreed and approved by NHS England/CCG/The Health Board. This can be a vital stage of the process as it will indicate the level of support for the transaction and proposed lease terms.
Market the property and the approved heads of terms (or draft lease) to our extensive database of specialist primary care investors and agents. Once potential purchasers have shown interest, we will negotiate with them to achieve the best price for your asset.
Finally, we will coordinate with the NHS to ensure full approvals prior to any completion and liaise with key stakeholders including, solicitors, accountants or tax advisors to help ensure a smooth transaction.
Get in touch with one of our expert advisors today and we would be more than happy to discuss the process in more detail and explain how a sale and leaseback could work for you!
We can boast some of the biggest primary care providers and investors in the UK as clients.
Our specialist primary care team have a combined experience of more than 100 years working in the primary care sector.
All our Chartered Surveyors and RICS registered valuers are specialist primary care surveyors and members of the RICS which means they are fully qualified and regulated by the Royal Institution of Chartered Surveyors.
Sue Pyatt, Practice Manager
Francis Mulhern, Bretton Medical Practice Peterborough
Dr Adnan Mohammad, GP Partner, Newsome Surgery, Yorkshire
Jill Foster, Practice Manager, Beacon Primary Care, Lancashire