Ref# 4708
North York
This general family practice is located in a busy, commercial/retail area in a well-run medical professional building with excellent exposure and complimentary tenants. Our conservative owner is accompanied by a strong hygiene program that offers patients well-rounded, consistent service that is an ideal vehicle to gradually promote a more proactive list of services.
The office operates in an efficient manner with a small yet talented group of staff, complimenting an efficient practitioner who, despite slowing down, has routinely demonstrated consistent revenue numbers in recent years. Taking ownership of this office presents a fantastic and immediate income potential at a sought after location in the heart of the GTA.
Situated at the junction of two major highways, adjacent to a premium mall with excellent road access and a subway stop around the corner, this streamlined operation is a strong investment for somebody looking to seize control of their professional future while building equity on an already strong foundation.
Highlights of this practice:
- Approximately 820 patients attended the practice in the last 12 months, with up to 60% of those sharing our owners’ Persian background. All speak English
- Subway in the immediate area
- Significant services referred out or not elected by the owner
- Staff contracts
- Open 5 days per week with minimal evening hours
- Strong cash earnings
Demolition Clause Commentary: Large REITS leverage their position and will place Demolition clauses in leases. This is a reality in large urban centres. The subject building has recently undergone significant capex improvements involving a new roof, modernized AC, new elevators throughout the building and a slate of covid 19 related improvements, which run into the cost of several millions of dollars. Suffice to say, the landlord has demonstrated a long-term commitment to this investment and its tenants. Our new owner will be negotiating additional term to satisfy the payment schedule of any investment loan. Please know that the directives of this landlord will not abide the removal of the demo clause. This said multiple banks have stated their commitment to finance this opportunity as they see very little risk in supporting the long-term sustainability of a business in this building. This has been reflected in the appraisal and asking price.
Additional Purchaser/Advisor Information:
- Offers are due immediately
- A Practice Profile will be provided to those who have completed a ROI Corporation Confidentiality Agreement
- Offers should be accompanied by a certified cheque payable to “ROI Corporation IN TRUST” equal to 10% of the offered price for the practice
- ROI Corporation will prepare all offers on our standard forms for your lawyer’s review