Primary care specialists at Bristol property adviser GVA have arranged a forward funding deal which facilitates the development of a £3.1 million medical centre in Bristol.
Acting on behalf of Kitto Group plc, GVA has concluded the deal with Primary Health Properties plc, the UK’s leading investor in modern primary healthcare facilities, for the Leap Valley Medical Centre in Downend.
The 1,000 sq m health centre will be let to the GPs at the practice upon completion of the property, in November 2014. As well as the funding deal, GVA also negotiated the lease arrangements, initially structured over a 21 year term, between the GPs and PHP.
Groundworks have just been started at the Beaufort Road site, by Kitto Group Plc.
Senior Director and Head of GVA Health, Richard Taylor comments, “The commencement on site of this project is the result of many years development and planning behind the scenes by all the concerned parties. The new facilities are much needed and will serve the practice well for many years to come.”
The Leap Valley surgery currently operates out of cramped conditions in two 1950s semis in Four Acre Road, Downend. The new centre will be home to 7 GPs and 24 staff, as well as the surgery’s 10,500 patients.
The new two-storey building will feature ten consulting rooms, two treatment rooms and a minor operations unit, as well as an on-site pharmacy, meeting and training rooms, and staff facilities.
GVA has one of the UK’s leading primary care property advisory teams, offering services across the property lifecycle from estate strategy, lease consultancy, building consultancy, valuation, planning and agency.