Refresh, retire, recruit
- Sale and lease back of an existing surgery premises
- Provided equity release for the existing partners who were looking to retire
- Enabled recruitment of new doctors into the partnership
- Included an extensive refurbishment programme
The GPs owned the premises and many were nearing retirement age. They wanted to release their equity and recruit new partners into the practice. We helped them do just that, while also refreshing and upgrading their premises.
We purchased the surgery from the GPs, put a new lease in place and organised the refurbishment to set the building up for the next 20 years. As well as releasing the equity in the building for the partners looking to retire, this structure also meant that new equity partners did not have to find funds to buy a share of the building when joining the partnership, enabling new doctors to be recruited.
Since we finished, a number of GPs have retired and have been replaced – something other practices are struggling to do. The cherry on the cake is the improved medical centre, one that will serve the community for many more years.