Free Consultation
Book a Free Consultation
A certified valuer will listen to your situation and answer any questions you may have, at no cost.
From a bulk-billing clinic in Logan to specialist rooms near the Royal Brisbane and Women's Hospital: valued on what the practice earns without your own sessions, with the reasoning written down so it can be tested.
A Brisbane general or specialist practice is normally valued by capitalising its future maintainable earnings. The principal's drawings are replaced with a market salary for the sessions actually worked and one-off items are removed, then a capitalisation rate built from a risk-free rate and risk premiums is applied. Comparable practice sales and the market value of fit-out and equipment test the result.
The request nearly always has a date attached. A registrar at a group practice in Carindale is ready to buy in and the partners need a price. A corporate operator has written to a three-doctor clinic in North Lakes. A specialist with rooms near the Princess Alexandra Hospital at Woolloongabba is separating, and the family law property settlement needs a value for the practice. A bank wants a valuation before funding the fit-out of a second site in Springfield. Or the accountant needs a market value for a restructure or a small business CGT concession claim, and it has to be one the ATO will accept.
Approaches from corporate operators are frequent in Brisbane's growth suburbs, so many owners are answering a letter rather than planning a sale. Having the practice valued first tells you what it would earn if you stopped consulting, and that is the figure a buyer is actually paying for. It also separates the goodwill in an offer from what is really payment for your future sessions, which changes how the price and any tie-in period should be judged.
A certified valuer will listen to your situation and answer any questions you may have, at no cost.
The Income Approach leads. Patients return to an established practice week after week, and income that recurs that steadily is what the income approach measures best.
Most practices are valued by capitalising future maintainable earnings, which means dividing one sustainable earnings figure by a capitalisation rate equal to the discount rate less long-term growth. A discounted cash flow is preferred when the coming years will differ from the recent past. A Carindale practice taking a registrar through to partnership, a Greenslopes specialist group opening a second suite in Springfield, or a lease about to reprice on renewal are changes a DCF can model year by year and a single multiple cannot.
The capitalisation rate is assembled from its components rather than chosen: a risk-free rate taken from long-dated Commonwealth bond yields, an equity risk premium, a size premium, an industry premium, and a loading specific to the practice that reflects concentration of billings in one or two doctors, lease security, the bulk-billing mix and the quality of the records.
Comparable practice sales, expressed per full-time-equivalent doctor or per active patient, show whether the income result sits where buyers have actually paid. A few closely matched Brisbane sales are worth more than a long list of loosely matched ones.
Consulting room fit-out, clinical equipment and any imaging are moved from book value to current market value. That total sets the floor, since a practice trading as a going concern should not be worth less than the net realisable value of what it owns.
Two valuers looking at the same practice differ most often on normalisation, so the report shows each adjustment and the reason for it in the main text. In medical practices these come up again and again:
Brisbane's practices group around its hospitals and its growth areas. Specialist rooms and day surgeries cluster near the Royal Brisbane and Women's Hospital at Herston, the Princess Alexandra Hospital at Woolloongabba, the Mater in South Brisbane, The Prince Charles Hospital at Chermside and Greenslopes Private Hospital, and along Wickham Terrace in Spring Hill, where referrals come from the hospitals nearby and rents reflect that position. Established multi-doctor general practices sit in suburbs such as Indooroopilly, Carindale and Mount Gravatt. The growth areas of Springfield, Ipswich, Logan, North Lakes and Moreton Bay are where new bulk-billing clinics open and where corporate operators are most active.
That map defines the comparable set. Specialist rooms in Herston and a six-doctor clinic in Springfield are not comparable simply because both are in Greater Brisbane: billing mix, practitioner supply, rent and the share of goodwill tied to one name all differ. Payroll tax then sits over the top. Whether payments to contracted GPs count as wages under the Payroll Tax Act 1971 (Qld) has been a live issue for Queensland practices, and the Queensland Revenue Office has issued guidance and relief measures specific to general practice, so the way a practice engages and pays its doctors affects both its maintainable earnings and the risk loading a buyer applies. We check the position that applies at the valuation date rather than assume it.
Growth in the sector continues. Health care and social assistance businesses in the national count rose 6.7 per cent in 2025 to 2026, and Queensland finished the year with a net 19,244 more actively trading businesses across all industries (Source: ABS, Counts of Australian Businesses, July 2022 to June 2026, released 18 August 2026). More practices provide more comparable evidence, and also more buyers competing for those with several doctors and a secure lease.
The report opens with the purpose of the valuation, the standard of value, the valuation date and the information relied on, including where it falls short. It then sets out each approach considered and the method selected under it, every normalisation adjustment with its reason, and a reconciliation of the results into a range with the weighting explained plainly.
That reconciliation is what the opinion rests on under review. If the report cannot show why the income approach was preferred, or why the multiple sits at one point in the range and not another, an opposing expert in the Supreme Court of Queensland or a mediator in a family law matter at the Brisbane registry will find the gap. Where doctors practise in partnership without a written agreement covering an exit, the Partnership Act 1891 (Qld) can shape what is being valued, and the report says which basis it adopts. Our reports are prepared under APESB, APES 225 Valuation Services and signed by a certified valuer who expects to explain and defend them.
Ask the valuer to name the weakest assumption in your practice's report and explain how they would defend it. If they cannot do that on the spot, the work is incomplete.
An Indicative valuation gives an owner a sound internal view before replying to a corporate operator or setting a buy-in price for a registrar. It is for internal decision-making and is not written for third party reliance. A Summary report suits most partner admissions, retirements and bank applications. A Detailed report is the level for a family law property settlement in the Brisbane registry, a dispute between practice owners, or any matter in which a second expert will examine the opinion closely.
Depth follows purpose. The greater the chance that a court, a lender, the ATO or another expert will test the opinion, the more complete the report needs to be.
For internal decision-making. Useful for testing an offer, setting an expectation before a negotiation, or deciding whether to go to market. It is not written for third party reliance.
Sets out the approaches applied, the normalisation adjustments made and the reasoning behind the conclusion. The usual choice for a sale, an ownership change or a finance application.
Applies and reconciles all relevant approaches in full. The level required where a court, the ATO, a lender or another expert will review the opinion.
Talk your situation through with a certified valuer before you commit to anything, at no cost.