Established Legal and Property Conveyancing Practice - Melbourne

Description

Business type: conveyancing and legal practice

Location: Melbourne eastern suburbs, Victoria, Australia

Established: 1998

Asking price: $352,000

Financial performance

Annual gross fees: $700,000 to $750,000

Adjusted principal profit: approximately $250,000

Conveyancing revenue: approximately 95%

Workload

Annual matters: approximately 450

Average fee per matter: approximately $1,600 including GST

Fee model: mainly fixed fee

Principal hours: approximately 25 per week

Operations

Conveyancing work: mainly handled by experienced paralegals

Referral network: established

Repeat clients: established

English and Chinese capability: available

Local Asian client base: established

Transition

Structured handover: available

Buyer requirements

Victorian practising certificate: required for purchaser or appointed practitioner

Trust account arrangements: required after completion

Regulatory arrangements: required after completion

Sale process

Confidentiality Agreement: required