Est GP business w/ owners remaining in NW Sydney in Iconic

11 days ago

Link Business Sydney

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Summary

Est GP business w/ owners remaining in NW Sydney in Iconic, heritage listed practice

About the Business


Heritage listed practice with 2x CRs and a nurse room, split level, with the waiting room and CR's on the ground floor and some storage/PM room upstairs. 

The GPs are looking to sell the business and transition gradually to retirement. There are 6 car parks on the block of land with 3 more at the front. 2.2 FTE GP's are currently working at the practice including 2x owners each doing 4 days and another 2x P/T lady GPs. One of the P/T drs comes all the way from Wollongong to work (1.5 hrs drive each way) and she would probably not transition with a new owner as she is only doing a few sessions a week. This would give the new owner sessions to see patients, plus additional sessions from each of the owners as they too are looking to reduce their hours. Their goal is to continue working in the practice for the new owner doing 2-4 sessions per week for up to 3 years post settlement. Both of the ladies are looking to retire at 65 and have about 3 years left to work. None of the GPs are on contracts so a new negotiation would have to be reached if the new buyer wanted them to stay on. 

For the right money the freehold is also available however, it is primarily the business that the owners are looking to sell so that they can start planning their transition to retirement in another 3 years time. Currently the rent is $6K per month and if the freehold wasn't sold, then a new lease would be created at the rate of 5.5% of the freehold valuation which would be $105,500 pa + GST + on-costs. 

This is a mixed billing GP practice with BB used only for aged pensioners over 80 yrs of age, Veterans, and children under 5 yrs of age; all other pts are privately billed. The fees currently are $70 for a standard consult up to 20 mins and $140 for a longer consult from 21 to 39 mins. If the pt is there for a follow-up visit, they may charge a reduced fee of $60. 

The freehold was valued recently and can be purchased at $2.4M as a part of the transaction but is not a requirement of the business sale. 

To enquire on this business visit www.linkbusiness.com.au/NSW08736 and click on "enquire now"

Ref: NSW08736
Sally Stuart
Business Sales Consultant
Phone: + 61 2 9899 1999
Mobile: +61 437 082 045
Email: sally.stuart@linkbusiness.com.au

THE PURCHASER TO MAKE HIS/HER OWN INVESTIGATIONS AND INQUIRIES IN RELATION TO THE BUSINESS AND NOT TO RELY UPON WARRANTY OR STATEMENT MADE BY THE VENDOR OR BY ANYONE ON HIS/HER BEHALF

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