34 km SW of Sydney. GP Clinic + bldg. 1.5 FTE GPs.

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Sydney 2000 Sydney, New South Wales, Australia

3 171
$395,000 Sold
NSW09862
2 months ago

UNDER CONTRACT

34 km SW of Sydney. GP Clinic + bldg. 1.5 FTE GPs.

This mixed billing clinic has been in this location treating 4x generations of families for over 50 yrs. It is very well established & runs efficiently with about 2x FTE's made up of 4x p/t GPs working across a 2x consulting room & 1x treatment rm practice. It is on a strip of shops within a residential community. Next to a chemist, this practice boasts a whole patient equivalent (WPE) of 2461 & a standardized whole patient equivalent (SWPE) of 2723. With 3x associates & 2x at or near retirement, the time has come to discuss exit strategies. Each of the associates wks about 25 hrs/wk & there is another consulting GP who also wks about 20 hrs/wk. There is no written associate agreement however, all decisions are made unanimously. 

Over the last 3 yrs, including the COVID yr which actually saw an increase in their gross billings due to the increase of BB telehealth consults, the average gross billings were about $1.085M. There is no monetary value in any remaining P+E so the sales price is reflective of the goodwill of the long-term established practice within the community. The clinic is accredited, and they receive PIP's from the govt.

There are also nursing home visits carried out by 3 of the 4 GPs and each GP is affiliated with one aged care residence to ensure that the residents experience continuity of care. There are 2x car ports and a separate room at the rear of the building (there is rear lane access and pts have used this as a COVID vaccination centre) which could be sub-leased to pathology or used as a designated treatment rm if a nurse was hired. The bldg is selling for $1.4M ONO at the same time as the business ($395K ONO). A long lease will be granted if you don't buy the bldg + the bldg may be sold to another party. Site visits will take place at a mutually agreed time ensuring that patient & staff confidentiality is maintained so after hours or over the weekend. 

The neighbouring bldg (2.5 rm residential unit upstairs & hair salon below) is also for sale if you are interested in developing both sites! Bldg size approx 254 m2 + block = 430m2. 

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