Developer and Investor Services
Developer ServicesThe rules and regulations of the Primary Care Trusts and role of the District Valuers in “policing” Government money make it more and more necessary to ensure that a valuation surveyor negotiating your Heads of Terms for the Agreement and Lease is a real specialist in the healthcare field. With over thirty years of experience, Aitchison Raffety have been involved virtually since the concept of new purpose built premises and have an intimate knowledge of both the NHS (GMS-Premises Costs) Directions and the guidance notes issued by the District Valuers Office. A full list of our services is listed to the right and, by working with the planners, building surveyors and other departments within Aitchison Raffety, we can also offer advice on:
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Rent Review Analysis |
When selecting a surveyor to act for you, it is essential to ensure that you appoint a specialist medical surveyor, regularly undertaking work in the healthcare sector. We continue to monitor our results and our latest figures below are based on the analysis of 92 rent reviews that we have settled on behalf of our clients over the last 3 years, and we are pleased to report that these continue to show rental increases over this recessionary period, although the rate of rental growth is slowing.. The increase on our rent review data until December 2010 actually shows an increase of 13.81%. However our data includes five rent reviews over the period, which was agreed at increases over 30% with one review showing a very substantial increase of 50.91%. We note that the previous rent was agreed by a Council Landlord who had not obtained specialist healthcare advice on the market rent. We have adjusted our average rent increase to account for these variations, and this now presently demonstrates an increase of 9.69%. Typically we find that rent reviews that are agreed more quickly, produce figures which show an increase of +1% against reviews which take longer to agree, and so the most recent figures will tend to reduce slightly as more data from reviews that are being fought harder, becomes available. While we are aware of GP’s accepting notional rent assessments in low single figure percentages and some PCT’s are suggesting, zero percent increase, this does not follow the results of our analysis of the data, and re-enforces the importance of instructing a specialist such as Aitchison Raffety to consider your rent on review for you. Investor ServicesWhether you are a Fund or individual investor, there are three important areas that need the attention of Aitchison Raffety. Firstly, you need to know exactly the value of your property and our specialist valuers who regularly monitor and record rental and yield activity are the best in their field. Secondly, you need to look at asset management and how the investment can be improved, possibly by works to the premises or maybe the addition of a complementary activity such as a pharmacy. Finally, it is clearly essential to get the best out of rent reviews and, as such, you not only require a specialist but one with years of experience in negotiations, appeals and third party referrals. Aitchison Raffety have one of the most comprehensive databases of surgery rentals and, with our knowledge of leases and the rent review process, we aim to maximise rent by convincing any opponent of our ability to take matters to appeal/third party and win. Aitchison Raffety also offer a full Management service where our special management surveyors now run a general management and rent collection service across the country geared to primary healthcare property. |
