It is common knowledge that all aspects of the property market have been affected by the economic downturn, and it is all too easy to assume that this is the case for Notional Rents on surgery premises.
However Stratton Creber Commercial has recognised, through continued success in negotiating increases in Current Market Rents throughout the South West, that the potential for Doctors to increase their income from Notional Rent should not be overlooked.
It is often that case that Doctors and Practice Managers do not wish to ‘rock the boat’ with NHS England when it comes to Notional Rent assessments, and are prepared to accept the level of rent they are allocated.
With NHS England now seemingly taking a blanket approach and offering no increase in their assessments across the board, if the Notional Rent has not been appealed for some time the level of rent may be significantly lower than rents on comparable premises that have been negotiated in recent years.
Such circumstances can result in possible significant and often unexpected increases in Notional Rent to be achieved, despite the perception that market conditions will not facilitate any improvement in reimbursement.
It is therefore important not to be complacent when receiving your assessment of Notional Rent from NHS England, and take expert advice from independent specialists in the Medical Sector such as Stratton Creber Commercial to ensure the optimum level of income is received through your rent reimbursement.
If your surgery is or has recently been subject to a Notional Rent review, or you wish to seek advice as to whether you are receiving the correct level of income from your property, please contact Chris Reed at our Plymouth Office.
Chris Reed BSc (Hons) MA