The Medical Property Fund (MPF) - one of the UK's leading investors in primary care property - has acquired the recentlyextended Moss Grove surgery premises in King-swinford.
The fund, which was set up in 2003 with £400 million to invest in existing and new primary care centres and doctors' surgery premises, has acquired the Moss Grove premises from the GPs following the retirement of the former senior partner and completion of a major extension to the building.
The remaining GPs decided to sell the building and lease it back from MPF to enable them to concentrate on developing the practice and NHS services to patients.
The recent extension has added an extra 30 per cent more space to the surgery, which serves 12,500 patients. There are extra consulting rooms, improved administration facilities and a pharmacy.
MPF has invested in more than 70 primary health care premises across the UK. Its other investments in the West Midlands include a new health centre development in Birmingham and a retail mall at the Heartlands Hospital. It is currently looking for further investment sites.
Andrew Darke, who is responsible for medical property fund investments in the West Midlands, said: "Our aim is to be the long-term partner with the GPs and local primary care trust and provide and maintain modern buildings suitable for the delivery of the highest standards of patient care within the NHS. We look forward to working with the doctors."
Traditionally, primary health care premises have been owned by GPs, but ownership is becoming increasingly unattractive to doctors.
Forty per cent of GPs are women who have different career patterns to male doctors and are less interested in premises ownership.
At the same time the trend is towards modern, larger primary care centres for which the capital costs are much higher and therefore less attractive to doctors.
With the Government putting more emphasis on primary care, the Medical Property Fund says it is well placed to invest in the acquisition and development of primary care premises, leaving GPs free to concentrate on delivering better patient care. ..SUPL: