Freehold ($2.1M) must be sold with Medical & Dental Practice ($300K). DPA & MMM 3. Regional NSW
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This regional NSW Medical & Dental Centre is able to cover a wide range of services, having trained nursing staff, modern equipment and procedure rooms. With 4x directors, none of whom currently work regularly at the practice, I've been told it's time to sell! The Dr directors all live locally and will provide locum cover on an as and when required basis. The clinic is close to a large retirement village + next door to a university.
The practice is in a great position with the income from the pathology more than covering the current rental payments. The chemist dispenses from this location for patient ease and convenience but there is no income stream from this to the practice owner. There are allied health (social worker) onsite, with 1x spare CR, there is the option to add additional services. The Dental room (currently not being utilized) has an adjoining steri-room plus Molecheck is available for the GPs at all times.
There are 2.5x FTE GPs remaining at this practice, with 1x F/T registrar, a part time GP in the PEP programme and a F/T VR GP as the supervisor. The registrar has been there since 2019 and is year 3. The registrar will remain until Feb 2021 when his training time will be complete. Doctors billings are 70% (VR),65% and 50.5% + Super (Registrars).The clinic is accredited til Oct 2021 and with a FT RN on site, it is getting govt incentive payments for PNIPS, PIPS, and SIPS. All pt files are soft, with the practice using BP.
There are 4x CR's, a combined nurse/tx rm, and a dental chair. With high pt demand, they are undergoing a surge in pt numbers as they are close to the university, and a new residential development. They are hoping to have a new shopping centre in the area too which will further drive patient numbers and enquiries. There are 2x new suburbs locally which are growing quickly with many new young families moving into the area with no doctor.
Hours: Weekdays = 8:30am5:30pm, Saturday + Sunday = Closed so plenty of potential here to extend the hours and increase the income and therefore the profit. Approx SWPE numbers are 1900, so additional local marketing to the university each year and the new residential community will certainly bolster this.
View the video here: https://vimeo.com/user1063334/review/438446134/42900a011b The owners also own the building which is on the market for $2.1M and must be sold with the business ($300K) making the whole transaction currently listed for sale at $2.4M.
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