5/7/2019 | Dental Practices

Vacant dental practice in Gateshead brought to the market

Specialist business property adviser, Christie & Co has been instructed to sell a new lease for a vacant dental practice with significant development potential in Team Valley, Gateshead, on behalf of GH Group.

Occupying a highly visible trading location just off Junction 68 on the A1 motorway, the practice is ideally situated less than two miles from Gateshead town centre and four miles from Newcastle. The practice comprises two surgeries, which were recently fitted to a high standard and benefit from a modern design, and presents the potential to add a further two surgeries. 

As the practice already has the infrastructure for a new owner to begin trading immediately, there is massive scope to take advantage of the practice’s potential and drive the business forward.

Gary Houghton, Assets Director of GH Group, comments, “Following our change of use application with Gateshead Council, we had to undertake a telephone survey to substantiate our application. An independent telephone survey company was engaged, who pre-qualified 100 businesses on the Team Valley Trading Estate. The objective was to achieve a 25% success threshold that identified a locally based dentist facility would be used. The outcome of the survey was an overwhelming 80% success rate.

“There are approximately 200,000 employees on the Team Valley Trading Estate and not a single dentist on the Trading Estate. Having a dental surgery that allowed people to make a dental appointment without the need of having to take a morning or afternoon off work appealed to the businesses that participated in the telephone survey. The outcome of this was our main driver in investing and developing a brand new state of the facility.”

Joel Mannix, Business Agent at Christie & Co is handling the sale and comments, “This vacant dental practice presents a fantastic opportunity for a dentist to take advantage of a fully fitted practice in an area which clearly has a demand from patients. Highly motivated to sell, the current owners are offering favourable lease terms in order to give the new owner every possible chance to succeed.

“We anticipate this opportunity will attract a variety of buyers, in particular first time buyers, associates looking to build their own goodwill, as well as operators who have outgrown their sites and are now looking to expand their portfolio or branch into private dentistry.”

Christie & Co is seeking offers in the region of £45,000 for the leasehold interest with an annual rent of £25,000.