What is a Market Valuation and how can BWHS help?

BW Healthcare Surveyors team have considerable experience undertaking market valuations of GP Practices. We pride ourselves on our no-nonsense approach and highly competitive fee structures. We will manage the whole process from start to finish and keep you up to date with our progress on a regular basis.

What is a Market Valuation?

  • market valuations, or market rental valuations, are valuation reports prepared by Chartered Surveyors. These set out the value of the Property, based on a set of agreed assumptions, such as the nature and use of the building/land etc.
  • They set out the value of the building and the reports can be used for various purposes, including partnership change, potential sale or acquisition by interested parties, taxation purposes, internal advice for GPs and for dispute resolutions.
  • We do not provide valuations for money lending purposes as these reports are sent back to banks to approve funding, and in those instances, banks only use valuers from their list of approved valuers or panel of valuers. For us to be active on those Panels we would need significant Professional Indemnity Insurance and potentially have a different level of fees for these types of reports, this is not an area that would be beneficial for the company at this time.

What is included in a Market Valuation report?

How valuations are undertaken and reported are strictly governed by the RICS (Royal Institution of Chartered Surveyors) and can only be produced by Chartered Surveyors will relevant knowledge and experience of the Sector

Reports include detailed descriptions of the property and location, they set out the basis of valuation, level of reimbursement from the NHS, confirmation of accommodation and floor areas and a summary of the market sector and detailed analysis of the valuation of the building/land.

What is involved in undertaking a Market Valuation?

The following steps are undertaken by Chartered Surveyors in producing market valuations for GP surgeries:

  1. Survey, measure, and inspection of the surgery
  2. Agreement of terms of engagement, these set out the detailed assumptions on which the valuation is based including date of valuation, extent of valuation etc.
  3. Review of information.  This includes reviewing reimbursement levels, potentially discussing with the district valuer if there are any unusual aspects or Abatements to the notional rent etc.
  4. Valuation, this involves the valuer reviewing comparable evidence, e.g. similar surgeries in the locality and/or wider region and all information relevant to the valuation.  When we have a relatively standard GP surgery valuation, the valuer will assess the appropriate market rental value which is then capitalised at an appropriate yield this is then used to convert the rental value into a capital value, e.g. a sale value.  Yields are based on various things, including the age of building, the standard and location etc.

Why choose BW Healthcare Surveyors?

BW Healthcare Surveyors team have considerable experience undertaking market valuations of GP Practices. We pride ourselves on our no-nonsense approach and highly competitive fee structures. We will manage the whole process from start to finish and keep you up to date with our progress on a regular basis.

  • We are the Top ranked primary care surveying firm in the UK according to Practice Index.
  • We have 10 specialist primary care surveyors with over 100 years combined experience supporting GP practices with all their premises requirements.
  • Our specialist team have already provided help and support to over 1,000 GP practices.
  • We are SafeContractor accredited, and a Code of Practice approved supplier.
  • We have fantastic working relationships other agents, ICB’s and NHS Premises teams to ensure a speedy and hassle-free rent review process.

Should you have any questions or queries in regards to any of the above or would like to discuss your circumstances with one of our expert advisors please don’t hesitate to get in touch on 0114 4420098 and we would be more than happy to help.

CLIENT TESTIMONIALS

Sue Pyatt

Excellent service throughout, constant updates and feedback from yourselves.

Sue Pyatt, Practice Manager

Francis Mulhern

They were extremely easy to deal with, informative, focussed and efficient.

Francis Mulhern, Bretton Medical Practice Peterborough

Adnan Mohammad

Efficient company that that has a competitive fee and get the job done.

Dr Adnan Mohammad, GP Partner, Newsome Surgery, Yorkshire

Jill Foster

BW Healthcare has that special personal touch.

Jill Foster, Practice Manager, Beacon Primary Care, Lancashire