NSW Central Coast GP + Bldg. DPA + MMM1. VR's only

Located next to a head tenant in a busy shopping complex, there's loads of foot fall past the front door of this busy GP practice! Vendors selling business($350K ONO) & bldg ($1.6M ONO). 

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 (x2 p/t 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 = $74K pa
  • Psych (Jan '24) = $320/12 (wks 1 day/wk)
  • Chiro/Naturopath: (Feb '24) = $1,733/12 (wks 5x days/wk)
  • Audiologist (Oct '24) = $200/12 (started 1 day/fortnight + will add days as reqd)
• MC payment 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 weekdays at 1pm or AH's 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.

• Broker – sally.stuart@linkbusiness.com.au
• Purchasers are required to make their own inquiries in order to verify the info provided.
• Ref: NSW11440