medical centre pharmacies

kdowling

Are GP's who own privately funded health centres still asking for huge key money on top of rents for the medical centre pharmacies?

in the past you were looking at key money of around €1,000,000 and rents of around €150,000/year.

I assume this has changed drastically, anyone know the current situation?

RobFowl

Those days are long gone. Nowadays the chemists usually pay a premium of €10 on the average retail rental (per sq/ft). Key money is rarely paid and 3-6 month rent free period can be negotiated for a long lease.
Some chemists pay a percentage of their gross turnover as rent (about 10%).

meditraitor

kdowling wrote: »

Are GP's who own privately funded health centres still asking for huge key money on top of rents for the medical centre pharmacies?

in the past you were looking at key money of around €1,000,000 and rents of around €150,000/year.

I assume this has changed drastically, anyone know the current situation?

http://www.thepsi.ie/Libraries/Publications/Memorandum_of_Advice_re_RPBs.sflb.ashx

As I understand it this is not acceptable behaviour on a number of levels

A doctor or other healthcare professional ought not have any “interest”
in the commercial success of a retail pharmacy business and vice versa.
If such interests were permitted then the temptation for abuse and risk
to patient safety and exploitation would almost certainly increase. Such a
situation would result in loss of patient trust in their healthcare professionals
with consequent fundamental damage to the reputation of the respective
professions. Once again, the tension between unbiased and independent
patient healthcare and commercial self interest must be maintained and as
necessary kept in check

6.4 Section 63 declares that it is professional misconduct by a registered
pharmacist or a registered medical practitioner if he or she has a beneficial
interest in the medical practice or registered retail pharmacy business of the
other. Beneficial interest is defined in Section 63(5) as including the interest
of a director or a shareholder in a company or the interest of a member
in a corporate body which is not a company. An “interest” also includes
the interest of the landlord in the rent (or other consideration) of a leased
premises in circumstances where the rental value and/or the consideration
is not an open market one or where the rent or consideration is ascertained
by reference to the receipts or

basically GPs should not be landlords of pharmaceutical outlets,

http://www.medicalcouncil.ie/Media-Centre/Publications/Discussion-Docs/Co-location-of-General-Practice-surgeries-with-Pharmacies-Implications-for-Medical-Practitioners-.html

daithi1986

My GP owns the pharmacy next door to his practice, he is also a qualified pharmacist and maintains current registration as a pharmacist. Is this allowed?

ricardo1

RobFowl wrote: »

Those days are long gone. Nowadays the chemists usually pay a premium of €10 on the average retail rental (per sq/ft). Key money is rarely paid and 3-6 month rent free period can be negotiated for a long lease.
Some chemists pay a percentage of their gross turnover as rent (about 10%).

Is this still true?

Are there pharmacists paying this money to rent a pharmacy within a medical centre?

RobFowl

ricardo1 wrote: »

Is this still true?

Are there pharmacists paying this money to rent a pharmacy within a medical centre?

You're quoting a post made almost 3 years ago and that was not specifically about pharmacies within medical centres. I know there are many attached but I'm sure they have to have separate entrances/exits etc.
Rents in almost every part of the commercial sector have reduced since then.