DPA+MMM1. Mixed Billing multi dr GP. Newcastle.

medical centre for sale in Newcastle NSW

Asking Price: $600,000

Approx 6x FTE GPs on 65/35%
Billings about $3.8M
ACGP accredited training clinic
All Fellowed GPs are independent contractors on current contracts & the regs are employees on 55% + super. 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 vendor’s pts post transition (max 1 yr). During this transition period, vendors days at practice would reduce from 4 to 3 to 2 days/wk before he completely retires.

The 4-units-in-1 clinic (w/ 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, 2x FT RN’s & 2x p/t EN’s w/ an admin team of 8 (mostly p/t + cas).

Getting PIPs,  WIPs + SIPs, there are 2x accredited trainers so when the vendor retires, there will be 1x 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 + 10 yrs + less
2 regs level 1+ 2 – 6 months (Will be replaced by another 2 in Feb ’24)
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
Rent is $182,640 pa + GST
Clinic is open every Sat morning w/ 1x GP wkg on a roster for this shift.

The Registrars work Mon, Tues, Wed, Thurs + Thurs + Fri – full days.

Will you be the next owner of this GP clinic that has been running for > 90 yrs in suburban Newcastle? Serious vendor encourages offers!

For more details:

Broker: Sally Stuart
M: 0437 082 045
E: sally.stuart @linkbusiness.com.au