A number of GPs own their premises. It is often wise to include in the partnership agreement that when a partner retires or leaves a partnership that they are obliged to sell their share to the partnership/incoming partners.
The GPC guidance The future of GP practice premises states that 'if a partner wishes to retire but wants to remain the owner of the property, they would have to stay on as a ‘sleeping partner’.
According to the Premises Directions, to be able to continue receiving notional rent, you have to be a contractor.
Otherwise the only option is to stop receiving rent reimbursement from the PCO, become a landlord and rent out the property to the remaining partners who would have to apply for lease reimbursements'. (p22 in linked document) |