Established pt base in clinic nr North Parramatta in a med density zoned location w/ freehold avail!
About this business for saleEstablished pt base in clinic nr North Parramatta in a med density zoned location w/ freehold avail!
Solo female GP there for 17 yrs, they bought it in 2000 and she is getting tired, burnt out and needing to retire. She is bulk billing, has about 2000 active pts and many more inactive. She usually takes the whole month off Dec off each year and this year is thinking of taking some of Jan too so if you would like to have a 'try before you buy 'you could certainly do a 4-week locum in this western Sydney location. The current GP sees about 40 pts per day, 4 days a week and has been working for 4 days a week for at least the last 3 yrs. She is consistently gross bill b/w $430K and $440K so even an additional day a week would see increased billings and therefore increased profitability for the practice. Currently the dr works about 10 hrs a day, sees pt by bookings (no walk-ins unless they are an emergency) and has closed her books re new bookings. The owner takes a directors fee + directors super being last yr, $106K + $35K super. The GP's husband is the PM and takes a combines base and super of $80K. 6
Currently she is working Mon/Tues/Thurs/Fri and has reception and nurse with her each day that the practice is open. The practice is accredited so she gets PIPS, PNIPS, and E-PIPS, as well as additional income form Laverty pathology who have a contract there and need to give 3 months’ notice to change the rate. Currently the income from the incentives ($2K per month and $1100 per month from Laverty) means that the rent they are paying is cash positive. They own the freehold through their SMSF and they haven't increased the rent that the practice is paying to their fund since they started the business in 2000. The nurse works 9-3pm for the 4 days that the practice owner is working. All staff are casual with no accrued leave.
When she started working there the pts were mostly Ozzies but over the year she has seen a change in her pt demographics to be more migrants. She has Indian language skills & most of her pts use English language so no requirement to have additional language skills.
They also own the freehold and are willing to sell the building & the business for $1.4M. The GP owner takes a director fee + super as opposed to a fee split. The husband takes a combined package of $80K (incl super) for the practice management of the business. The GP only sees patients and does none of the administration.
There are 2x CRs & a Tx rm, with council permission for 6 car parks, with the rear of the block having the car park. There is also 1x disabled car park at the front of the clinic with ramp access.
Husband is already retired and the GP wife is heading towards retirement. She may be able to transition for a period of time with new owner, and has an interest in doing 1 to 2 days a week in the future after her break over the Xmas/New Year period.
The councils have recently amalgamated and now the block of land (619 metres squared) is in the Parramatta Council and this council is very 'pro-development' so there is the option to bulldoze the fibro building and build a duplex on the site. The current zoning is medium density and there are an increasing number of apartments being built on the same side of the road. Opposite the business is a significant shopping precinct w/ a large pharmacy & a bulk billing, high speed Medical Centre. When the owner goes on leave each yr, she directs her pts to go to the MC across the rd in the shopping centre but b/c of the poor service that they get over there, they always come back to this GP as she is a traditional dr & doesn't do 5 min medicine!
If you are interested in buying the building and the business, site visits can be arranged before or after work, on a Wed at any time or over the weekend + the owners only lie 10 mins away and can open up at a mutually convenient time. The CRs are large and the ceiling is very high. The practice needs a bit of 'love' to freshen it up but would work very efficiently for a husband and wife GP team or with another FT or PT GP onboard! The GP will continue doing 1 day a week for the new owners of 2x half days for 3 months, maximum.
For full details contact Sally Stuart on email@example.com or on 0437 082 045.
To enquire on this business visit www.linkbusiness.com.au/NSW08191 and click on "enquire now"
Note: The purchaser to make his/her own investigations and enquiries in relation to the business and not to rely upon warranty or statement made by the vendor or by anyone on his/her behalf.
*Profit: Sellers Discretionary Earnings, also known as EBPITD (Earnings Before Proprietors Compensation, Interest, Tax and Depreciation). This is the estimated total discretionary earnings (profit) for a business, usually based on historical trading.