There are a number of options which can create a valuable income generating asset for the practice: 

On-site pharmacy
Surgeries with spare land or surplus car parking can consider offering this space to a pharmacy operator. An on-site pharmacy offers benefit to patients, as well as providing a good source of rental income and enhancing the value of the surgery by creating a strong income stream. Premiums can often be negotiated, making a significant contribution towards building costs. It is important to seek specialist advice when agreeing lease terms and to sign agreements for leases prior to commencing any development or alteration work.

Letting surplus space
Leasing surplus space to complimentary occupiers, such as physiotherapists and primary care organisations, can also offer patient benefits as well as generating rental income. It is important that these rental agreements are formally documented either through a lease, license or Tenancy at Will agreement.

Extensions
There are various ways of funding extensions and refurbishments to existing premises. If it is self-funded, the practice needs to assess - prior to construction - the likely impact of the development on the notional rent, to ensure that income is maximised during the process.

Creating a saleable investment
GPs may not be aware that ownership and occupation of GP premises can be separated out to create an investment property. The appropriate lease terms will need to be drawn up to formalise this separation.

For details on these options and more, please contact Guy Welfare on 01452 880149 or via email at This e-mail address is being protected from spam bots, you need JavaScript enabled to view it