Practices For Sale

Ref# 5026

Status: Conditionally SOLD

Location: Ontario

Gross Revenue: $1,990,954

Appraised Value: $2,884,910

Asking Price: $2,884,910

Cash Earnings: $1,015,795

DURHAM REGION

It is an honour to represent our client in the sale of this top-tier dental practice as they pursue a lifestyle transition out of the province.

This five-operatory practice is ideally located in a charming and rapidly growing community less than an hour away from Toronto. The highly sought-after retail location is complemented by several traffic-drawing anchor tenants and surrounded by residential homes with multiple new condo developments underway.

Strong business systems and a skillful, friendly team have directly translated to organic growth, which is also illustrated by the strong financial stats. Despite the turn-key appeal of this practice, upside potential exists both in a steady stream of specialty services currently being referred out and the ability to tap into marketing potential.

Our client’s lease favourably extends until 2037. This said, and as commonly seen in larger retail developments, a demolition clause exists with a 6-month notice period. Thankfully this is a clause that exists with a multitude of mitigation that should provide comfort. We have been able to secure confirmation that other tenants in the same development have unencumbered tenancy that extends 20+ years. The plaza and building have benefitted from recent CapEx improvements that underline the landlord’s long-term commitment. The same landlord has given written confirmation that they have no plans to redevelop the plaza and have indicated that they might entertain some appeasement of the terms. Buyers and the associated financiers should be comfortable assuming an assignment of the lease in an “as is” state and will, of course, be given preference in a competitive situation. The demolition clause is reflected in the appraisal and asking price.

Highlights of this practice include:

  • Cash earnings are well above industry standard at 49% of gross
  • A strong hygiene program accounting for 40% of revenue
  • 2,742 unique patients have attended the practice in the past 12 months
  • Equipment and leaseholds are immaculately maintained, offering a warm and inviting environment for patients
  • The practice is fully digital, including x-ray, a Panorex, and clinical records
  • 25-30 new patients per month with no advertising efforts in place
  • Ample, free parking

Additional Purchaser/Advisor Information:

  • A Practice Profile will be available to qualified purchasers within 24 hours of your request
  • The Appraisal will be available to all qualified purchasers
  • ROI Corporation will prepare all offers on our standard forms for your lawyer’s review

 

For additional information, please contact Alexis Sweetnam, Sales Representative.

 

 

 

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