Huge interest in this 26 place centre on busy Mowbray Road in Sydney. One hundred and eighty five enquiries.
I mentioned in a previous thread a portfolio of twelve centres that had been placed for sale, another two have been placed on market, one especially is at a bargain basement price. The first one is a 75 place centre in Maryborough, there is only one centre in Maryborough with the licensed capacity. The approved provider is Ramsay Bourne, I believe Ramsay Bourne is a subsidiary of G8. The asking price is $150,000, that equates to $2,000 per licensed place. G8's paid $29,700 in February for their last group of acquisitions. Ramsay Bourne were featured in their 2015 Results Presentation, as an Operational Excellence Case Study. Page 16 "a selection of group acquisitions demonstrates the groups ability to drive organic EBIT growth via the execution of the G8 corporate model". In the ACEQUA register of centres G8 are listed as the provider of only 326 centres, compared to their reports which state 471 centres, plus the latest acquisitions that take their total centres to 484. Presumably the difference between the two are the centres registered to subsidiaries.
The other centre is an 86 place on the Sunshine Coast for sale for $550,000. IMO this belongs to another large previously ASX listed group.
The difference in price between some listed centres is questionable. You couldn't fit out and resource a 75 place centre for under $100,000. Will be interesting to see who the new purchasers are.
IMO & DYOR
GEM Price at posting:
$3.95 Sentiment: None Disclosure: Not Held
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