Dunedin

Property Details

$3,660,000

ID: 386997

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Aged Care facility Otago




Aged Care facility Otago

AGED CARE FACILITY - OTAGO
Asking Price $3,660,000
Well established facility in a stunning rural setting, close to a number of provincial towns which have solid population bases and are performing economically, in a region of NZ which is over represented , compared to the national average , with older people.
There is a mix of rest home and hospital beds, as well as a number of retirement units which are administered via Occupation Rights Agreements
In addition, there is income from respite care, care of under 65 year olds, day activity, palliative care and meals on wheels.
There truly is a wide spread of revenue
The owner has owned and operated the facility for many years and is now looking to retire.
Should a purchaser wish to look at the business as a straight investment, as opposed to being hands on, there is a clerical and a clinical staff member who are each capable of stepping up to additional responsibilities.
The care buildings (rest home and hospital) were built in the 1930's and while there have been additions and upgrades, we are still looking at an older style building.
The retirement village units are new, and there is the capacity to add to these
So while the buildings are of an older style, the standard of care is so well regarded that occupancy across the facility for the last three years sits at 98%, 98% and 99%
The recent registered valuation from Colliers International talks of the facility having an "assured future" given the aging population and the ratio of beds to older persons.
There is also a cottage on site which is occupied by a staff member, as well as an adjoining property which is rented out to a third party.
Staffing is one of the major pluses of the business, long standing, loyal, well qualified.
Budgeted EBIDTA for the current year is $395,000
Price
Land and Improvements $3,000,000
Chattels/Plant $245,000
Goodwill $415,000 Total $3,660,000