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Practice One
Practice Two
Practice Three
MediEstates Services
Location
London Previous
London Practice Practice Location Located in the Borehamwood area of London, this dental practice has been operating for over 50 years with the current Principal taking ownership 29 years ago. The practice is very well established and is situated in the town centre with parking at the rear for four vehicles, there is also a large car park close by making it easily accessible for patients.
Type of Practice This is a 3 surgery mixed practice. The vendor owns the Freehold which he has retained and has offered a long lease to the buyer. There is scope within the business to offer further specialist treatments alongside the NHS patients.
Financials
The turnover of the business, £698,425, is derived from an NHS contract in excess of £372,000 with a healthy UDA rate plus private fee-paying patients, specialist treatments and there is also a capitation scheme in place.
Buyer Appetites
This was a very popular practice with over 30 viewings arranged with over 12 subsequent offers placed.
Reason for sale/ Incoming Purchaser
Although the Principal was looking to retire from dentistry, he was willing to stay post sale as long as required to transition the business to the new owner.
Price Achieved
We achieved a sale price of £1,315,000 for the goodwill fixtures and fittings with a long lease of £25,000 per annum.
Sale Price £1,315,000
Plus £25,000/annum for long lease
Turnover
Computerised
No. Surgeries
Type
Property
£698,425
Yes, SOE
Three
Mixed NHS & Private
Leasehold
Next
Practice One
Practice Two
Practice Three
MediEstates Services
Location
Manchester Previous
Manchester Practice Practice Location Situated in a residential area of Manchester, this practice is an integral part of the community, close to local shops and restaurants.
Type of Practice The practice has 3 surgeries with room to expand and has shop window frontage. The main source of its revenue comes from the NHS annual contract of more than £533,000. The rest of its income comes from treatments based on the number of procedures performed. There is huge scope to introduce private treatments to enhance the income further. The vendors wanted to retire post sale.
Financials
The turnover of £595,544 is derived from a predominantly NHS contract with the remainder of the income generated through private fee per item treatments.
Buyer Appetites
This practice was never put on the market as we were brokering to the existing associate.
Reason for sale/ Incoming Purchaser
The vendors were looking to retire and had been approached by their existing associate at the practice. We helped negotiate a sale price and brokered the sale through to completion. Our in-house finance department assisted the Associate to obtain the required finance to purchase the practice.
Price Achieved
The sale price agreed was £725,000 for the goodwill fixtures and fittings plus £275,000 for freehold.
Sale Price
Turnover
Computerised
No. Surgeries
Type
Property
£725,000
£595,544
Yes, SOE
Three
Predominantly NHS
Freehold
Plus £275,000 for freehold
Next
Practice One
Practice Two
Practice Three
MediEstates Services
Location
South West London Previous
South West London Practice Practice Location The practice is perfectly situated in a rapidly growing, busy and affluent area within the South West of London. It is located in a prime position, on a major main road with other shops and services within walking distance of the practice.
Type of Practice Well established for over 40 years, this modern mixed practice houses eight equipped dental surgeries which are fitted with digital x-rays and are fully computerised using SOE software. There was an option to acquire the freehold or to retain for a lease to be agreed.
Financials
With a turnover of £1,438,231, over 50% was derived from a GDS NHS contract with a strong UDA rate. The current owner worked alongside a team of Associate Dentists, and three Hygienists.
Buyer Appetites
Due to the size and specification, the practice was marketed exclusively to our Premier Tier buyers. The level of interest received from an early stage resulted in the practice only having four viewings before an offer was received and accepted in order to proceed to legal stages.
Reason for sale/ Incoming Purchaser
The practice came to the market following the vendors plans to retire from ownership and to diminish ownership responsibilities. The client had not lost the love for dentistry and was happy to discuss staying at the practice post sale if required. As the successful purchaser was a corporate body this was received very well with the overall agreed offer, however on this occasion the client was not required to stay on.
Price Achieved
The sale price was agreed on a Leasehold basis at £3,250,000. There was no deferred payment put in place with this offer meaning that the total consideration would be paid upon completion. The new lease was agreed at a 15-year term with 5 year rent reviews.
Sale Price
Turnover
Computerised
No. Surgeries
Type
Property
£3,250,000
£1,438,231
Yes, SOE
Eight
Mixed NHS & Private
Leasehold
Next
Practice One
Practice Two
Practice Three
MediEstates Services
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