This Aged Care Facility is located in a vibrant rural tourist township providing rest home and hospital level care with no competition within a 30km radius. This well respected facility has been operating over 28 years.
The complex is managed with high occupancy levels for the rest home and hospital wing. The vendor has advised that the majority of residents are long term residents with a couple of beds made available for community needs.
The original structure comprises a well constructed villa circa 1900 with three subsequent additions in 1988, 1994 & 2005. Also situated on the site is a detached laundry/garage with an accommodation unit. The grounds are landscaped incorporating gardens with extensive car parking to the front & rear. Being an established complex it would be difficult for any competition to obtain the necessary permit & establish a going concern operation.
For the forecast Year Ending 31st March 2022 the owners accountant is projecting a full year normalised profit for 2022 to be around $300K proportionate to size of the business, inclusive of part time manager's wage. With occupancy trending greater than 94%, the EBITDAR would be improved if purchased by an owner operator.
To improve financial performance an opportunity exists for an operator to add more aged care beds or service apartments on the available land as this facility is located across two sections with a total land area of approx 4,682sqm (more or less). This facility is being sold as a Freehold Going Concern & would suit an owner operator due to its location OR would fit into any aged care portfolio with growth targets.
Asking Price: Offers $2.5M (Plus GST if any).
If you would like to find out more about its location and more, please visit www.barkerbusiness.co.nz/3089 & submit the online Confidentiality Agreement.
Source: Information supplied by the Business Owner or the Owners Agent(s). Licensed REA 2008. Copyright Barker Business Brokerage Ltd 2024.
