Asking $299,000 for the business & $1.6M for the building
Overview
2x GPs each wkg 3.5-4x days/wk (may increase to 5 days if the new business owner agrees)
Seeing 90-100 pts/day
$700k+ worth of medical Fit-out
GPs pay room rental (not fee split)
Path rents 72 sqm, remaining MC is approx 260sqm
Floor area of 331sqm + 12 secure basement car-spaces (4 are in behind other car spaces) w/ 2x disabled car spaces + 24 shared spaces
MB, only paediatrics are BB, the remaining patients pay a fee for service unless they have a gold veterans’ card
The GP’s spouses manage the business (Approx 5 hrs/wk)
Directors are not paid a wage & are keen to do other things so the GPs will stay & the spouses will hand over the management to the new owners
1x FTE reception staff (x1 cas admin) – busy w/ the day-to-day transactions
Clinic is not accredited so no Govt incentive; an opportunity for the new buyer to add plenty of value
BP PMS
Financial snapshot
Total Rent/pa = $143K
Allied health (incl path) pays approx $100K pa
Laverty = $81,576K pa + 3% inc in Feb 2025
Psych (Jan ’24) = $320/12 (wks 1 day/wk)
Chiro/Naturopath: (Feb ’24) = $1,733/12 (wks 5x days/wk)
MC rent is $68K pa or just $5,750 per month before allied health
Drs x2 each pay $6,700/12 + GST room rent ($160k pa)
FY24 billings
GP1 = $610K
GP2 = $435K
Billings for last 6/12
GP1 = $520K (4x days)
GP2 = $314K (3.5x days)
GP1 & 2 were doing 3/4 days each during FY24. The income is not reflective of F/T hrs.
Billings are paid directly to GP (for payroll tax reasons) + GP pays service fee/rent to the MC. The income the MC receives is the GP service fee/rent.
The drs were paying service fees up to 12 Dec 2023; after that, room rent. The invoice in March 24 were higher for both drs to pay back the initial $35k x2 ($70k directors’ loan). Since then, each dr pays rm rent.
The 2 Drs will stay on w/ service fee arrangements + tenure at the practice to be negotiated w/ the buyer.
Site visits to be scheduled AH’s Tues or Fri from 5.15pm only to maintain confidentiality. Online meetings an option too!
Note: All inquiries will be handled with the utmost confidentiality to protect the privacy of the current staff and operations.
Listing ID: NSW11567
Broker: Sally Stuart
sally.stuart@linkbusiness.com.au