• Description

The practice:
East Coast Veterinary Clinic commenced as a mixed practice some 25 years ago and over the years the cattle component has decreased and the companion animal has increased to 90%.

This clinic currently operates as a one person practice from purpose adapted premises in the centre of the town of St Helens, Tasmania.

There are three vet nurses with one full-time and two casual. The full-time nurse and one of the casuals are currently undertaking a Certificate 4 in Veterinary nursing training.

The practice is equipped with the basic medical, dental and surgical and diagnostic equipment but the inventory could be readily expanded to offer more services.

Practice turnover for the financial year ending 30/06/2010 is in the order of $420,000 with an expected return to owner of approximately $100,000.

The buildings:
The Veterinary Clinic at 67 Quail Street is an attractive, low set, renovated bungalow with five on-site parking spaces available. The 120sq metre concrete brick building was built in the late 1940's and modified into the clinic during late 1990's. There are two consulting rooms, a designated surgery and all the usual facilities that are expected in a small clinic. In addition there are two large aviaries in the backyard often used to confine wildlife undergoing treatment.

The Clinic has been appraised during 2009 as having a market value of $260,000, or a rental value of $300 per week.

The adjoining property at 65 Quail Street is my residence. This house is a three bedroom concrete brick house and was also built in the late 1940's. It is situated on a large block of some 2000 square metres and includes several useful outbuildings as well as a granny flat and parking for many vehicles. The estimated value of the residence is in the vicinity of $300,000 freehold or a rental value of between $250 to $300 per week.

The real estate associated with both the veterinary clinic and adjoining are available for purchase freehold or to lease if desired.

The opportunities:
This practice has great upside potential and offers many exciting opportunities to a motivated purchaser such as:

• The closest veterinary practice is 100kms making competition non existent
• The practice runs on extremely low overheads
• There is good diversified local industry (fishing, forestry, tourism) to ensure a stable population and jobs
• The population in the immediate catchment area is over 6000, which indicates room for expansion. Client numbers are currently growing.
• Increased income can be gained rapidly with better fee scale and fee collection, and additional services from additional equipment purchases
• Increased income could also be gained by the employment of second vet and by better leverage from nurses
• This practice would ideally suit a husband and wife team.

The town:
St Helens is a picturesque town situated on the North East coast of Tasmania. St Helens is the largest town on the north-east coast of Tasmania, nestled on Georges Bay. It is located on the Tasman Highway, about 160 km east of Tasmania's second largest city, Launceston. In the early 2000s, the town was one of the fastest growing areas of Tasmania, and reached a population of 2049 at the 2006 census. St Helens is part of the Break O'Day Council; a council that includes the surrounding town Binalong Bay.

St Helens was first used as a whaling base in the early 19th century. When tin was discovered in the surrounding area in the 1870s, St Helens became the shipping port for the mines. The town was named after St Helens, Isle of Wight. Today the town is a popular resort for fishing, swimming and other aquatic activities. Its economy is based largely on tourism, fishing and timber. The town has all facilities such as primary and secondary schools, shopping centre, tourist facilities and a boating marina.

Business sale:
During the summer of 2009/2010 the business was assessed and valued by ValuVet. Goodwill has been valued in the vicinity of $220,000; equipment has been valued at $32,000 and the drugs and stock would currently be valued in the vicinity of $15,000 to $20,000.

There are various options available ranging from purchase of all components outright to purchase of the business with rental of either or both premises with the option of later purchase if desired.