Overview:
- approx 6x FTE GPs
- t/over about $2.5M
- RACGP accredited training practice
All the Fellowed GPs are independent contractors on current contracts & the regs are employees. Vendor is seeking to sell & retire in the next 12/12 after running this practice for 35 yrs! He generates about 30% of the gross income, so an ideal buyer would be a GP who can take over the pts post transition period (max 1 yr) & continue to generate this income. During this transition period, vendors days at practice would reduce from 4 to 3 then 2 days/wk etc before he completely retires.
The 4-units-in-1 clinic (complemented by 9x car parks incl a disabled car bay + 2x lockable garages), is rented w/ 4 yrs remaining + 5 + 5 yrs terms, at $192K pa + GST + on-costs. There is a cash bond in place of about $50K+ which the incoming owner will have to replace. 1012m2 of space = 7x CR's, 1x single bed tx rm, staff rm, 2x offices for the F/T PM, 1x FT nurse & 2x p/t nurses w/ an admin team of 8 (mostly p/t + cas).
Getting PIPs, WIPs + SIPs, there are 3x accredited trainers so when the vendor retires, there will be 2x w/ the new owner. Located on a bus stop for pt convenience, this practice is about to become more desirable as a private hospital is currently under construction 100m away; which should complete in 2024.
- 10 drs – all P/T
- Drs there 20 yrs
- 2 regs level 1+ 2 – 6 months (Will be rolled over for another 2 in Feb 2024)
- Path elsewhere in the bldg so no income from path
- 1x p/t dietitian
- The current PM is lovely & the business stable
- The bldg was purpose build as a MC w/ 2x apartments. Upstairs is a 2x b/rm apartment for office & other was used by Allied health & will be rented out as a residential unit for $25K pa
- Dr owner takes 65/35% in this mixed billing clinic
Fees:
- PENSIONER FEE for Full Pension Card Holders
- Healthcare Card Holders & C'wealth Snrs will be charged a DISCOUNT FEE
- All other pts, the STANDARD FEE apply
Will you be the next owner of this GP clinic that has been running for >90 yrs in suburban Newcastle? Serious vendor encourages offers!
