Wellbeing Chiropractic Portfolio by ASTON

The Largest National Chiropractic Business under long term Tenancy

The Wellbeing

PROPERTY PORTFOLIO

5 SECURE INVESTMENTS

5 OUTSTANDING MELBOURNE LOCATIONS

For Sale by Expressions of Interest closing Friday 22nd May at 2.00pm

Introduction Aston Commercial are pleased to offer the Wellbeing Chiropractic portfolio. As we surge through the unprecedented COVID-19 environment many industries have been stretched and tested and alternate viable investment options to create good income and cash flow has changed. These strategically located allied health clinics with medical permits offer a secure investment in a growth sector on long term leases.

This growth enables you to invest in strategically located real estate with a long-term medical tenant at affordable pricing levels when interest rates are at all time low levels making your investment cash flow positive. Whether you are buying 1 or all 5, Aston Commercial highly recommend these outstanding assets to kick start your property portfolio.

The portfolio of clinics is offered either individually, in parcels or as a whole and offers in all formats are encouraged. Wellbeing Chiropractic is Australiaâ&#x20AC;&#x2122;s largest chiropractic group with 20 locations across Victoria. Five assets are owned by Wellbeing Chiropractic with all other 15 sites under lease.

By acquiring you will not only be investing in property but also a brand that aims to go national and cement its place as Australiaâ&#x20AC;&#x2122;s largest chiropractic and allied health provider.

These five sites are being sold as a strategic move to enable and meet the intended growth of the business throughout Victoria and into other states.

Why Buy? LOCATION

EXCLUSIVE SELLING AGENTS

Strategically located sites on major roads and close to major activity centres, providing outstanding exposure.

Liam Rafferty

Jeremy Gruzewski

Senior Sales Executive 0421 886 655 liam@astoncommercial.com.au

Director of Agency 0422 211 021 jeremy@astoncommercial.com.au

MEDICAL TENANT An industry that survives all market conditions.

INCOME Secure income over 5 locations of $261,200* pa. *approx

WALE The Weight of Average Lease Expiry is 5.8 years

GROWTH Chiropractic profession is growing with strong income projections.

PRICE If you intend to buy one or all five, this outstanding opportunity is an

affordable price point.

The Key Details THE PORTFOLIO WILL OFFER 5 KEY SITES:

LOCATION

• Craigieburn • Cranbourne • Epping • Melton • Sunbury

The five sites are all strategically located on main roads, close to public transport and near the major activity centres of each suburb giving high exposure and ease of access.

DESCRIPTION

LEASE DETAILS

The environment at each Wellbeing Chiropractic clinic is designed to be warm, welcoming and clean; as well as being uniform across all locations. Functionally laid out with a reception, waiting area, X-Ray room, admin office and treatment rooms.

All five sites are leased to operator Wellbeing Chiropractic on 7-year lease terms. The total return of $261,200* pa. All outgoings outside land tax paid by tenant. A break down of each lease follows. *approx

METHOD OF SALE

TERMS OF SALE

For Sale by Expressions of Interest Closing Friday 22nd May at 2.00pm.

10% deposit with settlement in 60-90 days.

Tenancy Schedule Property

Craigieburn

Cranbourne

Epping

Melton

Sunbury

Commencing Rent $59,000 $58,000 $49,000 $38,000 $51,000 Current Rent

$60,770 $59,740 $50,470 $39,140 $51,000

Initial Term

7 years

Options

3 x 5 Years

15/01/19

29/01/19

23/10/2018 26/11/19

Lease Commencement 29/03/19 Lease Expiry

28/03/26 14/01/2026 28/01/26

22/10/25 25/11/26

Annual Increases 3.0% 3.0% 3.0% 3.0% 3.0% Bank Guarantee

“

4 Months

WALE

INCOME

The Weight of Average Lease Expiry is 5.8 years

$261,200* pa

OUTGOINGS

MARKET REVIEW

All outgoings outside land tax paid by tenant

To Market at exercise of the option

4 Months

*approx

The portfolio of clinics is offered either individually, in parcels or as a whole and offers in all formats are encouraged.

”

The Tenant Wellbeing Chiropractic is an established group of multidisciplinary practices across 20 locations around greater Melbourne offering Chiropractic treatment, Remedial Massage, and other allied healthcare services.

20 LOCATIONS

FOUNDED IN 2009

SERVICES

53 PRACTITIONERS

Chiropractic, Massage, Myotherapy, Naturopathy, Kinesiologist, Psychologist, Counselling, Acupuncture

96 STAFF

FORECAST REVENUE FOR FY2020 IS IN EXCESS OF $10,000,000

“

Our practices have professional and modern facilities that aid our team in providing quality chiropractic and natural healthcare.

”

Find out more at www.wellbeing365.com.au

“

The environment at each Wellbeing Chiropractic clinic is designed to be warm, welcoming and clean; as well as being uniform across all locations. Functionally laid-out with a reception, waiting area, X-Ray room, admin office and treatment rooms.

”

“

At Wellbeing Chiropractic our goal is to manage your musculoskeletal conditions with care, detail and efficiency. We refer and co-manage your condition with other health professionals as required.

”

The Largest National Chiropractic Provider The chiropractic profession is predominantly composed of sole traders which make Wellbeing Chiropractic (WBC) Australia’s largest chiropractic group. WBC is continuing the expansion through a Greenfields approach, targeting high-growth-population-suburbs with a focus on working-class/low-medium socio-economic demographics. WBC aims to become the first national provider of Chiropractic Services in the Australian market with clinics initially in 5 states (VIC, WA, SA, QLD, NSW). Currently there are 20 locations in Victoria. The growth has been both by leasing locations and acquiring strategic sites, obtaining permits and renovating to suit the specific business model of Wellbeing Chiropractic. The sale of these five clinics will provide the funds to continue the expansion program. The growth plan and strategy are supported by key industry stats.

“

The chiropractic and osteopathic services industry exhibits a low level of market share concentration, with no operator accounting for over 5% of industry revenue.

”

“

According to the ABS, only 21 enterprises generated over $2 million in revenue in 2017-18 (latest data available), and only three enterprises employed 20 or more workers. No single operator accounts for a substantial share of the total market in 2019-20.

”

There is an opportunity that you will be investing not only in property but what could be a nationally recognised brand.

*Source: IBIS world – Chiropractic and Osteopathic Services is Australia

Chiropractic Industry “The Chiropractic and Osteopathic Services profession is in the growth phase of its economic life cycle. Industry enterprise and establishment numbers have increased strongly over the past five years, as more students undertake study in chiropractic or osteopathy to take advantage of the growth opportunities available, including those driven by an ageing population.”

Industry at a glance... CHIROPRACTIC AND OSTEOPATHIC SERVICES IN 2019 - 2020 KEY STATISTICS SNAPSHOT

REVENUE

ANNUAL GROWTH 15-20

ANNUAL GROWTH 20-25

$857.0m

0.9%

2.0%

PROFIT

WAGES

BUSINESSES

$160.3m

$361.5m

5,620

PRODUCTS AND SERVICES SEGMENTATION 2019 - 2020

15% OSTEOPATHIC SERVICES

20% SPECIALIST CHIROPRACTIC SERVICES

65% GENERAL CHIROPRACTIC SERVICES

*Source: IBIS World – www.ibisworld.com.au

TOTAL $857.0m

“

Australia’s ageing population is supporting demand for allied health services such as chiropractic.

“

”

According to Australian Bureau of Statistics data, nearly seven million Australians suffered from long term diseases of the musculoskeletal system in 2017-18.

”

KEY STATISTICS - INDUSTRY DATA Year Revenue $m

Industry Value Establishments Enterprises Employment Exports Imports Wages $m Added $m

Domestic Demand

2010-11

692.5

424.0

5,221

4,211

10,188

250.4

N/A

2011-12

686.7

436.6

5,436

4,384

10,576

266.1

N/A

2012-13

691.1

442.6

5,568

4,491

10,965

280.4

N/A

2013-14

750.3

438.7

5,821

4,695

11,447

283.2

N/A

2014-15

820.2

482.1

5,941

4,810

11,917

310.2

N/A

2015-16

858.6

514.8

6,141

5,005

12,405

323.0

N/A

2016-17

823.6

509.8

6,336

5,198

12,765

326.7

N/A

2017-18

834.6

518.3

6,466

5,317

12,982

335.3

N/A

2018-19

843.3

527.9

6,610

5,455

13,370

345.6

N/A

2019-20

857.0

544.2

6,780

5,620

13,790

361.5

N/A

2020-21

871.2

561.1

6,962

5,800

14,200

377.4

N/A

2021-22

890.0

579.4

7,164

5,997

14,670

395.5

N/A

2022-23

905.4

594.4

7,342

6,170

15,085

-410.9

N/A

2023-24

926.6

610.9

7,530

6,355

15,545

428.0

N/A

2024-25

947.5

629.0

7,730

6,550

16,020

446.7

N/A

Sector Rank

19/19

10/19

9/19

18/19

N/A

19/19

N/A

Economy Rank

428/500

355/500

103/500

92/500

202/500

N/A

329/500

N/A

*Source: IBIS World – www.ibisworld.com.au

“ “

Industry revenue is forecast to grow at an annualised 2.0% over the five years through 2024-25, to $947.5 million.

”

Chiropractic and osteopathic services have gained further legitimacy through the increasing level of private health insurance benefits paid out for treatments.

”

The Wellbeing

PROPERTY PORTFOLIO

5 SUNBURY

CRAIGIEBURN

CRANBOURNE

4 MELTON

EPPING

MELTON

SUNBURY

CAROLINE SPRINGS

TARNEIT

Wellbeing Chiropractic service the suburbs of:

WERRIBEE East Lilydale, Boronia, Ringwood

POINT COOK

South East Cranbourne, Pakenham, Beaconsfield, Berwick, Narre Warren, Drouin Inner Melbourne Hawthorn, Malvern, Carlton, Melbourne CBD, Richmond, Footscray West Hoppers Crossing, Werribee, Point Cook, Sunbury, Melton, Tarneit, Caroline Springs North Craigieburn, Epping, Mernda, South Morang

PORT PHI

MELBOURNE

1 3

CRAIGIEBURN

MERNDA

EPPING SOUTH MORANG

LILYDALE FOOTSCRAY

ILLIP BAY

CARLTON

RINGWOOD

HAWTHORN

BORONIA

NARRE WARREN

BERWICK

PAKENHAM CRANBOURNE

41 Crai g i eb urn Ro a d

1 Craigieburn LAND AREA : 681 sqm* LOCATION Craigieburn is located 29 km north of the CBD. Craigieburn is a relatively new suburb that features a young population predominately comprised of families. It is currently undergoing significant population growth on the tail of the rapid residential development. Craigieburn features several shopping centres and a number of major employers such as the Reserve Bank of Australia Note Printing and Blue Circle Cement.*

BUILDING AREA : 152 sqm* ZONING : General Residential Zone - Schedule 1 (GRZ1) COUNCIL: Hume City Council MEDIAN HOUSE PRICE: $540,000* SURROUND SUBURBS: Mickleham, Greenvale, Wollert TENANCY DETAILS The individual lease terms of this property are as follows:

CURRENT RENTAL: $60,770* PA LEASE TERM: Seven (7) years LEASE START DATE: 29th March 2019 FURTHER OPTIONS : Three further (5) year terms ANNUAL INCREASES : 3% SECURITY DEPOSIT: Equal to 4 months rental

*approx

Source: www.profile.id.com.au / forecast.id

The population of Craigieburn Development area is forecast to increase 32% to 83,913 by 2041.

301 So uth Gi ppsl an d Hi gh way

2 Cranbourne LAND AREA : 672 sqm* LOCATION Cranbourne is located 43 km south-east of the CBD. Cranbourne is one of the fastest growing suburbs in the Melbourneâ&#x20AC;&#x2122;s south-eastern growth corridor. It is the terminus of the suburban railway line from Dandenong and is the last major suburb on the South Gippsland Highway before reaching Gippsland. The suburb boasts a significant commercial area along High St including the Cranbourne Park Shopping Centre.

BUILDING AREA : 105 sqm* ZONING : General Residential Zone - Schedule 1 (GRZ1) COUNCIL: City of Casey MEDIAN HOUSE PRICE: $534,000* SURROUND SUBURBS: Clyde and Cranbourne East TENANCY DETAILS The individual lease terms of this property are as follows:

CURRENT RENTAL: $59,740* PA LEASE TERM: Seven (7) years LEASE START DATE: 15th January 2019 FURTHER OPTIONS : Three further (5) year terms ANNUAL INCREASES : 3% SECURITY DEPOSIT: Equal to 4 months rental

*approx

Source: www.profile.id.com.au / forecast.id

The population of Greater Cranbourne is forecast to increase 25% to 127935 by 2041.

3 Epping

841 Hi gh Stree t LAND AREA : 619 sqm*

LOCATION Epping is located 20 km north of the CBD. Epping has been one of the fastest growing new suburbs in Melbourne over the last twenty years. It has been one of the major areas of new residential development in the Plenty corridor north of Melbourne. The suburb features the terminus of the suburban railway line, Epping Plaza Shopping Centre and the Northern Hospital.*

BUILDING AREA : 115 sqm* ZONING : General Residential Zone - Schedule 5 (GRZ5) COUNCIL: City of Whittlesea MEDIAN HOUSE PRICE: $591,000* SURROUND SUBURBS: Epping North, Wollert TENANCY DETAILS The individual lease terms of this property are as follows:

CURRENT RENTAL: $50,470* PA LEASE TERM: Seven (7) years LEASE START DATE: 29th January 2019 FURTHER OPTIONS : Three further (5) year terms ANNUAL INCREASES : 3% SECURITY DEPOSIT: Equal to 4 months rental

*approx

Source: www.profile.id.com.au / forecast.id

The population of Epping and Epping North is forecast to increase 50.25% to 61,697 by 2041.

4 Melton

118 Barri es Ro a d LAND AREA : 363 sqm*

LOCATION Melton is located 36 km west of the CBD. Located on Melbourne’s western fringe Melton is a residential area that experienced rapid growth during the 1970s. A large proportion of Melton’s labour force is employed in the wholesale & retail trade sector along with the manufacturing sector a significant employer. Melton also features a large commercial district centred on High St, the Melton Aquatic Centre, Beaty Park and the Melton Valley Golf Course.*

BUILDING AREA : 104 sqm* ZONING : Residential Growth Zone - Schedule 1 (RGZ1) COUNCIL: City of Melton MEDIAN HOUSE PRICE: $378,000* SURROUND SUBURBS: Melton Inner Suburbs TENANCY DETAILS The individual lease terms of this property are as follows:

CURRENT RENTAL: $39,140* PA LEASE TERM: Seven (7) years LEASE START DATE: 23rd October 2018 FURTHER OPTIONS : Three further (5) year terms ANNUAL INCREASES : 3% SECURITY DEPOSIT: Equal to 4 months rental

*approx

Source: www.profile.id.com.au / forecast.id

The population of Greater City of Melton is forecast to increase 182% to 172,017 to 485,061 by 2041.

5 Sunbury

31 Barkly Stree t

LAND AREA : 610 sqm* LOCATION Sunbury is located 36 km north-west of the CBD, just off the Calder Highway. The suburb experienced rapid growth during the 1970s and 1980s which is projected to continue due to short, medium and long-term residential opportunities. Sunbury has a strong commercial centre and retail precinct. The suburb also features the Sunbury Private Hospital and the Victorian University of Technology - Sunbury Campus.*

BUILDING AREA : 104 sqm* ZONING : General Residential Zone - Schedule 1 (GRZ1) COUNCIL: Hume City Council MEDIAN HOUSE PRICE: $548,000* SURROUND SUBURBS: Sunbury Inner Suburbs TENANCY DETAILS The individual lease terms of this property are as follows:

CURRENT RENTAL: $51,000* PA LEASE TERM: Seven (7) years LEASE START DATE: 26th November 2019 FURTHER OPTIONS : Three further (5) year terms ANNUAL INCREASES : 3% SECURITY DEPOSIT: Equal to 4 months rental

*approx

Source: www.profile.id.com.au / forecast.id

The population of Sunbury is forecast to increase 110% to 86,640 by 2041.

Virtual Inspection COVID-19 environment has changed the way we conduct and the way people want to do inspections. While we welcome inspections they can only be done on a one-on-one basis. As an operating medical clinic the operators are also conscious of having large groups and inspections. We have therefore completed â&#x20AC;&#x153;walk throughâ&#x20AC;? videos, internal photos and detailed floorplans of each clinic to give you a clear picture of each asset that may negate your necessity to inspect. Each clinic has a similar feel and design and it could be said that inspecting one will give purchasers a good feel of the assets. Should you wish to inspect, we will do our best to accommodate for you, and the tenant given the current circumstances.

1 CRAIGIEBURN

41 Craigieburn Road

2 CRANBOURNE

301 South Gippsland Highway

3 EPPING

841 High Street

4 MELTON

118 Barries Road

5 SUNBURY

31 Barkly Street

Sale Method METHOD OF SALE

TERMS OF SALE

For Sale by Expressions of Interest Closing Friday 22nd May at 2.00pm.

Upon signing a Contract of Sale, 10% of the purchase price as deposit and residual payable 60-90 days from the day of sale.

The properties are offered either individually, in parcels or as a whole and we welcome EOIâ&#x20AC;&#x2122;s in all formats.

INSPECTIONS Strictly by appointment with the exclusive selling agents.

CONTRACT OF SALE & VENDORS STATEMENT Available on request.

We note that we have supplied walk through videos, internal photos and floorplans of each clinic to give a full representation of the offerings.

EXCLUSIVE SELLING AGENTS

Liam Rafferty

Jeremy Gruzewski

Senior Sales Executive 0421 886 655 liam@astoncommercial.com.au

Director of Agency 0422 211 021 jeremy@astoncommercial.com.au

DISCLAIMER This document has been prepared by Aston Commercial Pty Ltd for advertising and general information only. Aston Commercial Pty Ltd do not guarantee, warrant or represent that the information contained in this document is correct. Any interested party should undertake their own enquiries as to the accuracy of the information. Aston Commercial Pty Ltd excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damage arising therefrom. *Approximate