Practice Location - Established over 55 years, the current principal acquired the business in 1983 as a going concern. The practice is located in a large town in the North West of England, with a prominent high street position and excellent transport links.
Type of Practice - This is a 2 surgery NHS practice with all of the income generated by the current principal. There is plenty of expansion potential on the first floor with room to create a 3rd surgery if required. The freehold premises were owned by the vendor who was flexible with regards selling or retaining the freehold.
Financials - The practice income was completely derived from the NHS contract worth £180,000 for 7,200 UDAs. Net profit margin was lower than average and could easily be improved by an incoming buyer through careful cost control.
Buyer Appetite - The practice was advertised to our priority tier buyers, with 9 viewings taking place and multiple offers being received. The level of demand amongst buyers resulted in a higher sale price being achieved.
Reason for sale / Incoming Purchaser - The vendor was looking to retire and wanted to cease working at the practice relatively quickly after a sale completed. The incoming purchaser already owned a small group of practices in the area and was looking to expand their estate.
Price Achieved - £280,000 for the goodwill, equipment, fixtures and fittings, in addition to £85,000 for the freehold premises.
Practice Location - Located within a large Scottish city, this practice was first established in 1954 and acquired by the current vendor in 1990. The premises comprise a converted residential terrace close to other shops and amenities in an area of high footfall.
Type of Practice - There are 2 fully-occupied surgeries within this NHS practice, with one associate and a part-time hygienist working alongside the current principal to deliver the income. The freehold premises were to be included within the sale.
Financials - Annual turnover of £271,409 is almost exclusively generated from NHS income. The practice employs 1 full-time dental nurse alongside 5 part-time dental nurses who also cover reception duties.
Buyer Appetite - We successfully marketed the practice to our general market buyers, sending out 269 Sales Particulars to buyers, with a timely sale being achieved.
Reason for sale / Incoming Purchaser - The outgoing principal was looking to retire immediately; this suited the incoming purchaser who was a first-time buyer looking to work within the practice full-time.
Price Achieved - £491,956 inclusive of goodwill, equipment, fixtures/fittings and freehold, which was in line with the original marketing price.
Practice Location - This relatively new practice is located within a coastal town in North Wales, and was set up from squat by the current principal. The practice is surrounded by other healthcare facilities in a dedicated community area within the town centre.
Type of Practice - This 2 surgery practice is fully private, with a third of the income derived from capitation and two thirds fee-per-item work. The outgoing principal delivers the majority of income alongside a part-time associate and hygienist. The freehold premises, valued at approximately £175,000, were owned by the vendor who was open to selling if preferred by the incoming buyer.
Financials - Annual turnover is approximately £475,000 with a healthy net profit of £167,000. Both establishment costs and staff costs at the practice were monitored closely to ensure the profitability of the practice was maintained going forward.
Buyer Appetite - This practice was sold on our general market with over 590 buyers viewing details online.
Reason for sale / Incoming Purchaser - The principal was looking to reduce their responsibilities and was happy to stay on at the practice post-sale, subject to agreeable associate terms. The incoming buyer was purchasing as an investment opportunity and was keen for the outgoing principal to continue working at the practice, to maintain the continuity of income going forward.
Price Achieved - £560,000 inclusive of goodwill, equipment, fixtures/fittings and freehold.