Oldfield Surgery - Sale and leaseback of a primary care surgery Bath
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@ Mike McelHinney
Mike McElhinney
Retail Agency
0122 574 7274 email me about Mike

Three career highlights:

Leading Bath retail and leisure agent, act for St John’s Foundation, Bath, Standard Life, Aviva, Imperial, The Gap and numerous other investors and occupiers.

Recent highlights:
Letting to Rick Stein restaurants in Marlborough, Wiltshire.
Sale of an investment portfolio in Bath for St John’s Foundation
Sale of Santander, Milsom Street, Bath for Lothbury.
Transactional work for St John’s Foundation in Old Bond Street Bath including lettings to Bobbi Brown and  Charles Tyrwhitt and purchase & re-gear of Russell & Bromley.

I can provide advice on:

Our professionals were instructed to advise on the surgery by three doctors who jointly owned the premises which totalled approximately 1,070 sqm over two floors with 22 car parking spaces

The owners sought to realise their capital. Liaising throughout with the local NHS Estates and Commissioning teams, a new 20-year lease, acceptable to all of the doctors in the practice and the NHS and institutional investors was drafted and the asset marketed to specialist healthcare investors. 

A sale was then finalised to Assura Aspire at a price of £4,725,000, with a passing rent of £234,000 reflecting a 4.7% initial yield.