Management in Practice Property panel discussion Sam Hopkins, Partner, Capsticks LLP 16 November 2016
Background: who owns GP premises? Source: British Medical Association , National survey of GPs The future of General Practice 2015
When should property owners grant a lease? Where you have third parties in occupation A lease underpins the value in the property by securing a rental income stream Gives certainty to the terms of occupancy The only way to avoid business security of tenure
When should occupiers take a formal lease? If the surgery is partnership property = not essential If all of the owners are retired = yes If the owner is any other third party = yes
Top tips on managing a sale and leaseback transaction Obtain partner buy in. Speak to NHS England early on in the process. Engage a specialist surveyor to value the building, advise on lease terms and prepare heads of terms. Ensure legal title to your property is clean and up to date. Obtain financial and tax advice. Ensure NHS England approve your heads of terms.
Top tips on managing a new development Third party development (3PD) schemes. Self-build.
Conclusions GP property transactions are a specialist area Always keep your partnership deed up to date Keep a cool head but be ready to call in the artillery when you need it… Finally…
Contact details SAM HOPKINS Partner, Real Estate T 020 8780 4776 E sam.hopkins@capsticks.com