10 Doctor GP Practice – Brisbane. Revenue $4.85m Net Profit $774,287

Est 2015 this modern General Practice has 10 GP’s in total with 7.5 FTE. Showing very strong annual growth in a prime location this centre is one of Brisbane’s best. No DPA + MMM1

Open 5.5 days, there is plenty of scope to add value to this successful, mixed billing practice. There are many great reasons to buy this practice, including having a great team!

10 GPs in total all on 70/30 (7x FT + 3x PT = 7.5 FTE GPs), with some Drs there for as long as 8 yrs
11 CR’s and 1x path – no room for additional reg’s
2x F/T nurses use a dedicated treatment room plus 1x nurse doing health assessments
F/T PM (38.25 hrs/wk) + owner there weekly for few hrs only
Pt demographics are a bit older so needing more frequent consults
Location: Located in a shopping centre w/ Coles & Woolies as head tenants, there is good footfall + loads of parking nearby. Conveniently located near the practice are several pharmacies, radiologists, specialist centres & a public hospital.

Facilities: 300m2 w/ 10 CR’s, 2x procedure rms, a two bay tx rm, a physio + a path rm.

Lease: for 8 yrs til 2032 – $25,300/12 incl outgoing (power + water) + GST = $300K + pa ($195K initially increasing 4% annually)

Fees: Over $100 per consult, Drs making $3K a day in billings. Moved to Private billings so fees are increasing now as 40% private + 60% BB so gross income has increased over the last 12 months from $4.M to $4.9M (projected). Average monthly billings are now up over $100K from $70K since April 2024.

Subtenants: Clear visibility of the path in this very desirable location. Path pays $100K/pa (increasing as more Drs join), with a lease til 2025 & a high possibility of rent increase (with a letter from interested pathology). Podiatrist pays room rent (1/wk = $200/wk) + clinical psychology (3x/wk) + physio (3x/wk) both pay a 70/30 fee split.

Pts: Complex care coordination – $100K additional incentive to the practice from the PHN (valid for 2x yrs til April 2025). Health assessments can increase billing of $400K by adding extra nurses. Average age of the suburb is 52 yrs, can do more CDM & health assessments as more nurses are recruited. New pts each week & over 14,000 pt files on the software.

Accreditation: til 2026 w/ QPA

Services offered include but are not limited to:

General Health
CDM
Skin checks (skin flaps + excisions)
Cosmedical procedures (injectables & fillers)
Women’s Health
Immunisations
Reproductive health (including IUD insertion & removal)
Infusion medicine – Iron (Dr + nurse)
Medicinal Cannabis
Not currently doing medication reviews so an opportunity to add services
Online meetings are required initially before any site visits take place after hrs to preserve pt + team confidentiality.