Practice Sales Intelligence 01332 609318
www.mediestates.co.uk
Practice One
Practice Two
Practice Three
Practice Four
MediEstates Services
Location
East Anglia Previous
East Anglia Practice Practice Location
Located within a well-known and busy city in East Anglia. This dental practice has been operating for over 30 years whereby the practice continued to thrive and grow. The practice benefits from having a fantastic reputation for offering quality cosmetic and general dentistry. The business is very well equipped with modern interiors and is ran by an established clinical and support team. With shops and services close by this practice is open to invite further business and services.
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Type of Practice
Currently operating as a 5-surgery practice with the advantage of possible expansion for a further surgery. Income is derived predominately through fee per item income and a capitation scheme; however, the practice does see a small number of NHS patients servicing a 1,835 UDA NHS contract. The Freehold was previously owned jointly by the partners who granted the new lease to the incoming buyer.
Financials
The turnover of the business, £1,861,559 is derived from fee per item treatments, alongside a capitation scheme in excess of £130,000 and a small NHS contract.
Buyer Appetites
This practice was marketed to our premier buyers and generated 5 viewings. All buyers apart from one were corporate bodies and the other a newly forming group. Subsequently following each viewing, we received four offers more than the marketing price.
Reason for sale/ Incoming Purchaser
The practice came to the market due to the current Principals plans to reduce their responsibilities. All four offers held tie in periods which was not a problem for our clients who was happy to commit for two to three years post sale.
Price Achieved
This practice was on the market for £2,552,575 and we successfully achieved a sale price of £2,900,00 for the goodwill fixtures and fittings with a lease given at £35,000 per annum. The sale was completed in seven months, on the condition that the process run smoothly.
Sale Price £2,900,000
Plus £35,000/annum for long lease
Turnover
Computerised
No. Surgeries
Type
Property
£1,861,559
Yes, SOE
Five
Mixed NHS & Private
Freehold
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Practice One
Practice Two
Practice Three
Practice Four
MediEstates Services
Location
London Previous
London Practice Practice Location
This practice is perfectly situated in South East London. Located on a very busy High Street with shops and services close by. Excellent transport links surround the practice with the underground station New cross, just a short walk away. The current vendor has been situated at the practice since 2005 where the practice has thrived year on year.
Type of Practice
Currently operating as a 5-surgery practice this is a Predominantly NHS practice and has huge potential for further growth by implementing and offering specialist treatments. The freehold is held with an external landlord and a new lease will be issued to an incoming buyer.
Financials
The turnover of the business, £1,199,187 is derived from an NHS contract in excess of £988,000 with a healthy UDA rate plus private fee-paying patients.
Buyer Appetites
This practice was marketed to our premier buyers and generated 5 viewings within the first week, one corporate body and 4 independent buyers. Subsequently, 2 offers were received following the viewings. One asking price offer was received and another which was above the asking price. An offer was accepted before any of the other buyers who viewed had an opportunity to place an offer.
Reason for sale/ Incoming Purchaser
The practice came to the market due to the current Principal’s planning to retire from dentistry. Both offers received did not include a tie in period as the Principal wished to retire straight away post sale.
Price Achieved
We achieved a sale price of £2,400,000 for the goodwill fixtures and fittings with a long lease given at £35,000 per annum. The seller accepted the offer on the condition that the sale would go smoothly and be completed as soon as possible.
SalePrice Price Sale
£2,400,000
Plus £35,000/annum for long lease
Turnover Turnover £1,199,187
Computerised
No. Surgeries
Type
Property
Yes, SOE
Five
Mixed NHS & Private
Freehold
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Practice One
Practice Two
Practice Three
Practice Four
MediEstates Services
Location
Kent
Previous
Kent Practice Practice Location
This practice is located in a coastal town in Kent and commutable from Southeast London, the residents have a good level of disposable income and is perfect for private dentistry. The practice is situated within a detached, converted residential property with a small carpark at the front and additional on-street parking available. There is a small garden to the rear which is overlooked by the waiting room.
Type of Practice
This is a 5-surgery practice, 3 equipped for Dentist and 2 for Hygienists. Additional rooms include a reception/waiting area, staff room/kitchen, decontamination room, office, storeroom, x-ray processing area and 2 toilets. There is a small garden to the rear which is overlooked by the waiting room. The practice is in a good state of internal repair. There is scope to introduce specialist and cosmetic treatments to increase income. Over 40% of the income is from a well-known capitation scheme and the rest from fee per item patients and small NHS contract for children. This is an expense sharing partnership so is perfect for saving on staff and premise costs while retaining patients.
Financials
The turnover of the business, £361,430 is derived mainly from private fee-paying patients and specialist treatments. There is a contract of £28,919 for provision of 1,197 UDAs at £24.16.
Buyer Appetites
This is an expense sharing partnership sale of which one of the 2 partners wished to sell their share and retire. The practice received a high level of interest with over twenty viewings booked. Subsequently following the viewings, we received an offer at acceptable level with satisfactory terms.
Reason for sale/ Incoming Purchaser
Over 20 viewings booked!
The practice came to the market due to the current Principals plans to cease working due to health reasons. The offer accepted had no tie in periods which was perfect for our client.
Price Achieved
We achieved a sale price of £260,000 for the goodwill fixtures and fittings with a long lease given at £7,000 per annum. The offer was accepted before COVID lockdown which resulted in a longer than expected completion time. Both Buyer and vendor communicated well during this time and a completion took place in April 2022.
Sale Price £260,000
Plus £7,000/annum for long lease
Turnover
Computerised
No. Surgeries
Type
Property
£361,430
Yes, SOE
Five
Mixed NHS & Private
Freehold
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Practice One
Practice Two
Practice Three
Practice Four
MediEstates Services
Location
London Previous
London Practice Practice Location
17 viewings and 4 offers received!
Ideally located in a prominent and prime area of South East London and also serves the surrounding areas of London. Situated on a busy high street which benefits from lots of passing trade. The practice is very flexible with appointments and appreciates that patients have busy schedules therefore the practice also offers a walk-in clinic three days a week. There are local shops within walking distance and the practice is easily accessible with good transport links.
Type of Practice
Associate lead practice which has been established for over 60 years with an excellent reputation and very family oriented. The practice is a two-surgery mixed dental practice with room to add an additional surgery if required. The income is generated from an NHS contract and also has private fee-paying patients with lots of scope to increase the chair time and boost the incoming profits.
Financials
The turnover of the business, £119,093, is derived from an NHS contract in excess of £60,000 with a profitable UDA rate of £26.68 and private fee-paying patients.
Buyer Appetites
The practice had lots of interest and after 17 viewings and 4 offers the practice was only on the market for one month before it went into sold subject to contract.
Reason for sale/ Incoming Purchaser
The practice was originally purchased through MediEstates and after building an excellent rapport with the buyer, he then returned to remarket his practice. The practice came to the market as the client was already running an additional two practices and wanted to reduce responsibilities and commuting time.
Price Achieved
The full asking price of £266,246 plus the Freehold value of £400,000 was accepted and completed just under nine months.
Sale Price £266,246
Plus £400,000 for freehold
Turnover
Computerised
No. Surgeries
Type
Property
£119,093
Yes, SOE
Two
Mixed NHS & Private
Freehold
Next
Practice One
Practice Two
Practice Three
Practice Four
2022
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