Hi again
Thanks alophysio. Good suggestions, especially the lighting. We are in Healesville, Victoria. Land prices have gone up 64% yearly over the last 4 years, in this area. It is called the Yarra Valley, which is a premium wine growing district. The most recent quarter has shown a nearly 40% price growth, whereas some Melbourne areas have dropped 10% in value. As usual, we bought land near the peak, (this will sound cheap for a Sydney audience), half an acre block (a tad over 1800sq metres), for $110,000. Four years previously the same block was $64000. Over 12 months the land has appreciated to $145 - 150,000 (judging on the block next to us that sold 3 months ago.
Despite the above, we have had to double our expected budget to achieve a version of what we wanted, and we are not finished yet, by a long shot. What we want, and what we can now achieve are very different.
Although this topic is different to my usual posts, there is a consistency. My initial consultation fee for private patients is $60, whereas NSW WorkCover (I believe) has now accepted $65 for an initial treatment given by WorkCover approved therapists. In Victoria, we receive less than $40 for a WorkCover subsequent treatment, with NSW now receiving $55. A big difference.
The differential affects the ability to develop business in this State, and remain top level in treatment provision. A smaller rural community does not provide the cash flow, hence our project hedging bets on the way the clinic is designed - easily converted for future owners/ types of business.
As you say, it is best not to sell, and to refinance existing property. We have done exactly as you say with this building.
Thanks again for the helpful hints, and good luck with your project over xmas. If I knew how, I could post some pictures. I do not know if we are allowed to do this? Hints EZ Board?
MrPhysio






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