Abbotsbury, New South Wales 2176
GPs remaining post settlement in this Western Sydney Medical Centre (Non DPA) | established 18 yrs!
For Sale | $780,000 Negotiable
OWNERSHIP: The medical centre is owned by principal and administer through the principal's company.
LOCATION / POSITION: Located on the Sydney Western suburb, located 28 km west of Sydney CBD, just of the M4 motorway. Shop front main road location with ample parking for doctors, staff and patients and public transport.
MEDICAL CENTRE LAYOUT: Shop front consisting of large waiting area/reception room, 4 CRs and treatment room & pathology room. Staff/coffee area and toilets. Practice covers some 160 sqmts of commercial/retail space & offers cars parking for staff & doctor at rear. The rooms are large, have sinks are fully furnished and well equipped. The medical centre is computerised, paperless, using Best Practice and PracSoft. The medical centre is accreditation will be accredited under AGPAL to February 2022.
SECURITY OF TENURE: The medical centre premises are owned by the principal's SMSF. The principal is prepared to extend a 5 + 5 + 5-year lease or any duration required by buyer. Note: The rental expected would be $8666/month (plus G.S.T.) or $104,000 pa (+ GST.
MEDICAL CENTRE DOCTORS: The practice currently consists approx. 3.4 FTE GPs with one principal G.P.
There are 5 G.Ps (including principal) working in the practice.
- Principal GP 24hrs/wk. (including Saturdays)
- Principal GP 24hrs/wk. (including Saturdays)Male GP 32hrs/wk. (joined 2010) 30% Service Fee
- Principal GP 24hrs/wk. (including Saturdays)Female GP 32hrs/wk. (joined 2009) 25% Service Fee
- Male GP 24hrs/wk. (joined 2016) 30% Service Fee
- Female GP 24hrs/wk. (joined 2016) 25% Service Fee
All the GP alternate in providing Saturday (AM) sessions. 4 GPs work on Mondays with 2 to 3 on all other days and Saturday AM sessions. All GPs are VR, work as Sole traders/contractors and very experienced.
SERVICES PROVIDED/ALLIED HEALTH: All aspects of broad based general practice work is covered, and a Podiatrist visits one day per month by appointments.
STAFFING: We understand the medical centre employs excellent staff consisting of 3 receptionists and one PT & 2 casual, with their work hours, salary and annual holidays as follows:
- Receptionist Tuesday, Thursday & Wednesday (1:2)
- Receptionist Mondays
- Receptionist Friday & Wednesday (1:2)
Full time RN is employed cover Monday Friday hours.
MEDICAL CENTRE HOURS: Monday Friday (8am 6pm), Saturday (8am 1pm), No other after hours or weekend work done.
Note: Saturday morning sessions were only introduced in February 2019. Note: The practice provides after hours through the Local Deputising agency. The practice is appointment based online bookings however walk ins are welcome and seen a soon as possible, although the GPs are booked up well ahead. Note: Online bookings was set up in March 2019 and benefits are just coming through now.
PATIENT NUMBERS: We understand new patient numbers treated for last 12 month period 1/7/2018 30/6/2019 was 28,145. We understand patient numbers are in the range of 80 -100/day with new patients attempting to book in every day. We understand the practice has some 16,800 active patients on their records.
FEE STRUCTURE: We understand the medical practice is predominantly bulk billing. Note: Average fee/patient is approximately $45.
ANNUAL GROSS FEES/TOTAL INCOME: We understand the total income generated, by doctors, for the most recent 1 month period ended to 3/6/2019 was $1,314,468 and for the previous 12 months, 2018 FY, was $1,352,333 inclusive of Medicare DVA workcover & private.
Addition Income from PIP, PNIP and Pathology and some minor income from a sessional podiatrist and other payments would bring the total annual revenue over $1,465,000 for 2019 FY.
Note: Pathology rental, of $52,000 pa, which currently is paid to property owner however, it will be paid to the new medical centre owner, after sale.
MEDICAL CENTER EXPENSES: The major costs expected over a 12 month period for a buyer would be as follows, based on 2019 FY figures:
Rent $104,000 (can be frozen for the first 3 years for the incoming owner)
Cleaners $ 4,600
Medical Supplies $ 9,500
Superannuation $ 17,500
Electricity $ 4,500
Principal & Male GP Contract Fee (70%) $ 375,285
Female GP Contractors (75%) $ 583,760
Others $ 175,400
Total Expense $1,280,545
Estimated Profit $ 192,622
ASKING PRICE: $780,000 (inclusive of goodwill, equipment, furniture, instruments, fixtures, fittings and stock)
NOTE: Principal is happy to remain and work with the buyer, full time, on a 60/40 free split of gross billings + GST) for 1.5 years post settlement and possible longer, subject to negotiation.
MAJOR POSITIVE FEATURES FOR ANY BUYER OF THIS MEDICAL CENTRE
- Huge potential to expand with additional GP, (could be 5 FTE GP) with potential annual gross billings over $2,000,000.
- Open longer hours as there are NO restrictions on the days and hours of opening of this medical practice. Many working population cannot go to their GP until after 7pm or weekends.
- Exceptional visibility; excellent position on main road near local shopping area and shop front location, close to other allied health practices such as physio.
- Easier to recruit GP.s in this location
Very inexpensive purchase considering it would take at least the asking price, to establish, fit out, equip, find staff and doctors for a medical centre of this quality and size and achieve this current revenue base, from day one of operation.
Minimal opposition in area and none in direct opposition.
Increased annual revenue of $80,000 with Saturday (AM) session commenced February 2019.
Listing ID: NSW09361
Brokers: Sally Stuart, 0437 082 045 + firstname.lastname@example.org
To complete an online confidentiality agreement visit this business and enquire now at: https://linkbusiness.com.au/businesses-for-sale/ca/NSW09361
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