First-time buyer demand for private dental practices in London has increased in 2021.
This is according to new data from Christie & Co.
In 2020, it saw a significant jump in demand for NHS and mixed dental practices from associate first-time buyers.
The business property adviser estimates this was down to a greater need for job security fuelled by the pandemic. Although this continues to grow, the private practice market has also surged.
More aesthetic opportunities
‘The general rise in patient demand for private dental services over recent months continues to support practice revenue streams,’ the report states.
‘This may have been fuelled by both the reduction in accessibility to NHS dental services due to the pandemic. As well as the growth in demand for cosmetic dentistry and private clinical services more widely.’
Another key driver, Christie states, is the opportunity and availability to grow further.
This includes the introduction of cosmetic, aesthetic or specialist private treatments, alongside a foundation of private revenue.
There has also been a rise in the number of people seeking to work or partner with one or more individuals.
Positive news
Steve Darbon is director at Christie & Co. He said: ‘It is great to see this continued appetite from independent first-time buyers for private practice opportunities across Greater London.
‘These buyers are increasingly recognising the great growth opportunities presented in the private market. This is really positive and illustrates the confidence that the dental sector continues to offer investors and buyers alike.’
Examples of the spike in interest includes the sale of a fully fitted, vacant dental practice on Wimpole Street, London, to an associate first-time buyer in June 2021.
It brought the chance for a fully fitted clinic with low ongoing overheads – ideal for a first-time associate buyer where they could also offer clinical services almost immediately post-sale.
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