Medical Property

First Valuation Group, and in particular Mark Ruttner, Managing Director, has over the last few years undertaken due diligence within the medical industry and associated real estate premises from all facets of the property spectrum. Accordingly, we are deemed as a specialist as to current market value, rental determination and associated advisory within this specific and specialist area of real estate.

There are many reasons to advise, consult or value the real estate component of a medical associated property including but not limited to:

Sale / Leasing of the property

Merger with group, partnership etc

Buy in or retirement of partner

Family law matters

Insurance

Estate Planning

Rent Reviews

Asset

Management of Investment

Medical property is one of the main specialist areas of expertise that we cater for. The main reason we are deemed to be experts in this area is that we have continually serviced many differing sub markets over a fifteen year period and have compiled an extensive database of current market evidence throughout the Melbourne Metropolitan area.

Our involvement commenced initially within the small one to two practitioner clinics, to now servicing public listed entities in the determination of current market value and rental.

In short, the key to our success in this area have been due to our exposure to open market and fractional transactions. Therefore, to have compiled such data you need to be involved directly and from a valuation sense this is exactly how we started servicing the medical property sub market, allowing FVG Property to accurately assess current market value and current market rental.

Medical property data has enabled First Valuation Group to grow from Certified Practicing Valuers within this market segment to now provide advisory services to include advice as indicated above.

Doctors and specialists even more so today require expert advice not just in regard to what the property is worth, but as the industry grows, so do the smaller practices. Therefore, expert advice is required to include all types of variances from – :

-Feasibility of what the project will include ie. from two practitioners to eleven practitioners.  What will the real estate component look like, and can we use it to raise funds?

-What is the current market rental? Not just a random number selected by your accountant,  but a sum reflective of current market evidence and evidence that supported if need be within a court of law.

– Bearing in mind that the property has been purpose built, what do we insure the buildings for?

– We are thinking of selling the property as an investment. What is the most probable price and what is the best method to dispose of the property, and how do we do it?

The above gives a very concise overview of the many facets of individual property and what First Valuation Group can do in relation to the real estate process.

Medical Property valuations include the following matters of which are depicted within our standard valuation points – :

Terms of Reference

Certification

Synopsis

Definition of Market Value

Risk Assessment

Critical Assumptions and Recommendations

Date of Inspection

Date of Valuation

Market Movement Clause

Valuation

Site Details – Location

Legal Description – Title Details, Registered Proprietor, Easements and Encumbrances

Identifications

Land Details – Topography and Services, Environmental Risks

Town Planning – Planning, Existing Use, Heritage listing, Statutory Valuation Assessment

Improvements – General Description, Building Area, Feature Ancillary Improvements, Car Accommodation, State of Repair and Condition

Annual Essential Safety Measures Report

Occupation and Health and Safety

Valuation Consideration  - Local Property Comments

Ownership History

Saleability

Capital Growth Prospects

Valuation Analysis – Comparable Sales Evidence, Comparable Leasing Evidence

Risk Analysis – Market, Asset, Cashflow, Market Profile, Asset Managements

SWOT Analysis – Strengths, Weaknesses, Opportunities and Threats

Insurance Assessment

Valuation Rationale – Direct Comparison Approach, Income Capitalisation Approach, Summation Approach

These areas of expertise give the render, owner, shareholder and participants up to date levels of value supported by up to date live data.

Medical Property and First Valuation Group are synonymous.