Forest Grove House is a modern two storey medical facility built in 2002. Previously configured to provide medical consulting rooms at ground floor level with open plan office space at first floor level.
There is a large dedicated reception area at ground floor level with two passenger lifts providing access to the upper floor level.
Dedicated parking is available to the front and rear of the building with 119 car parking spaces allocated to Forest Grove House in total.
Location
Located in a prominent position within the Foresterhill Health Campus, 2.5 miles west of Aberdeen City Centre and accessed from the A944 road. Aberdeen is Scotland’s third largest city with a population of around 220,000 and a catchment population exceeding 500,000. The city is established as the energy capital of Europe and is the key city for the Grampian region.
Forest Grove House lies in the north western part of the health campus at the corner of Foresterhill Road and Ashgrove Road.
At over 125 acres, the Foresterhill Health Campus is one of the largest hospital complexes in Europe containing Aberdeen’s main hospitals and the Medical School of the University of Aberdeen. The site includes Aberdeen Royal Infirmary, Royal Aberdeen Children’s Hospital and Maternity Hospital, the new Baird Family Hospital and specialist facilities for the offshore nature of Aberdeen such as the Hyperbaric clinic adjacent to Forest Grove House.
Accommodation
Ground Floor - 1,265 sq m (13,616 sq ft ) Previously used as clinic and consulting space
First Floor - 1,229 sq m (13,228 sq ft) Open plan office space
Total - 2,494 sq m (26,844 sq ft)
Terms
EPC - The property has an EPC rating of C with potential to increase this to B if recommended measures are undertaken.
Non Domestic Rates - There are currently 6 separate entries in the Valuation Roll providing a combined Rateable Value of £398,550.
Opportunity:
The UK’s ageing population and increased incidence of chronic conditions, coupled with the overwhelming pressure the NHS faces, supports the long term and ever-growing demand for the UK’s private acute sector. The independent hospital sector is funded through the following payor sources:
SELF-PAY - Despite challenges to disposable income, self funding has continued to grow, as those that can afford it are prioritising health solutions. Long waiting times for elective surgery drives self pay enquiries.
PRIVATE MEDICAL INSURANCE - PMI represents the largest funding source for the private acute sector, with the majority funded through tax efficient medical expenses schemes offered by companies to their employees. PMI demand has grown as employers strive for a healthy workforce, coupled with telemedicine enhancing the medical insurance offering.
NHS - The Covid-19 pandemic has increased the NHS’s need for additional capacity due to growing waiting lists, highlighting the independent sector’s role in providing primary and overflow surgical care. Patient volumes are expected to increase in 2024 and beyond due to a growing waiting list for NHS treatment with over 690,000 people currently on waitlist for treatment in Scotland.
Lease Terms - Subject to negotiation, the property is available on a new full repairing and insuring lease.
VAT - All figures quoted are exclusive of VAT.
Legal Costs - Each party will be responsible for their own legal costs incurred in the transaction.
Specification
- A unique opportunity to acquire a modern self-contained medical facility.
- Up to 26,844 sq ft of accommodation arranged over ground and first floor levels.
- 119 on site dedicated car parking spaces.
- Located within Foresterhill Health Campus, a critical part of the NHS estate, including Aberdeen Royal Infirmary, the largest hospital in the Grampian region.
- Suitable for a range of private and NHS medical uses including hospital, diagnostics, and clinic uses, which are complimentary to the health campus location.
- Demand for private healthcare has soared to record levels in recent years driven by NHS backlogs.