The surgery is typically the most valuable asset in the practice and is a specialist building which must comply with numerous regulations. Ownership is often complex and can be difficult for a small practice to manage.
At DR Solicitors we understand all the many potential variations in surgery ownership, as well as the implications of the regulations on the usage and valuation of the building. We find that our focus on 'getting the deal done' combined with our deep understanding of primary care is often critical in moving a property transaction to completion.
Making changes such as refurbishment, redevelopment or moving to new premises is normally the most significant financial decision made by a practice. We have worked on many such schemes, including those managed by the partners themselves, specialist developers, PCTs, NHS LIFT companies and others. We understand the complex financing and its relationship to cost rent or notional rent (NHS Premises Directions), as well as the relationship with other potential occupiers of the building such as pharmacists, dentists, physiotherapists and others.
We work closely with practices to ensure that the surgery ownership reflects the changing nature of the partnership. As partners join and retire it is important that the rent reimbursement income is protected and that tax savings opportunities are optimised. We have developed industry leading documentation for this purpose through our close links with other primary care property professionals including surveyors and accountants.
Recent work includes:
- Surgery development
- Surgery leases (acting for tenant occupier)
- Leases to other primary care providers (acting for landlord)
- Property trust deeds ('Declarations of Trust')
- NHS LIFT Agreements
- Transfers and disposals, including partner buy-in and buy-outs
- Sale and leasebacks
- Advice on notional rent and rent reimbursement
- Service charge disputes