The Best Location For A New Medical Facility

Selecting the right site for your medical practice is arguably the most important step in establishing your new facility. There are important decisions to be made: Should you build from scratch, or opt to refurbish an existing facility?

Did you know that the site you choose can heavily influence the cost of your fitout? Not only does its size play a part, but also the building type, and the technical complications within it.

Today, it is more challenging than ever to secure commercial sites in preferred locations, let alone finding one that meets your specific requirements. So how can you determine whether to proceed with your chosen site or continue searching?

This article outlines 6 key steps to assist you in selecting the location of your dream medical facility!

1. Find a site with suitable parking capacity

It can be tempting to refit a facility with little to no parking capacity. However, according to our feedback from patients and specialists, parking is a top priority for patients. No matter how big your facility, limited parking will restrict your ability to grow in the future.

In cities where public transport is available, consider if the facility is in a suitable location for public transport users to access.

2. Find a previously occupied site

One potential cost-saving strategy during the fitout process is to refit a site that has previously been occupied, preferably by another medical company, (or similar). If a site has already been occupied, it is likely to contain provisions for key services such as plumbing, power supply, fire sprinklers, etc.

These base building costs can amount to up to 20% of the total cost of the project, before the actual fitout begins.

While the existing fitout will most likely be demolished and a new partitioning layout constructed, a previously occupied site presents opportunities for reusing existing services, often making it the ideal choice.

3. Choose the right-sized site

It is important you get professional advice about the amount of space you need in your facility, before starting to look for a suitable location. While a larger site is tempting, it can be a lot more costly compared to a smaller building with a more space-efficient design.

However, a larger site can potentially allow you to sub-let space to other healthcare-related tenants. However, keep in mind that this may require a larger upfront investment if you are required to subsidise the Base Build requirements or fitout costs.

4. Future-proof your facility

When thinking about size, also bear in mind your future requirements. Any fit-out usually lasts 10-15 years before it likely needs a refresh. That means you should be planning for at least 10 years of growth. Make sure your facility is future-proof, and not just a better-looking version of your current location.

5. Research availability at a Healthcare Precinct

Operating out of a Healthcare precinct has strategic advantages. Not only is the site likely to increase significantly in value, but a spot amongst other medical practices will also increase exposure to patients and other Medical professionals.

This may lead to increased referrals, new hiring opportunities, increased networking ability, and offer shared resources and amenities among the precinct that might not have elsewhere been available.

For information on available locations in current and future healthcare precincts, please feel free to contact us to inquire about site vacancies!

6. Consider Competitor Locations

Map your competitor locations. Are there other medical facilities offering similar services nearby? This exercise can help you identify gaps in the market and is often a good way to decide between two sites that are of similar appeal.

We hope this article provided insight into site selection. Being a crucial step in the fitout process, we highly recommend reaching out to an SME (Subject Matter Expert) consultant or a trusted advisor who can guide you through the site selection process.

While you will generally work with a Real Estate agent, an SME can provide on-the-ground advice for important factors of building infrastructure suitability and many other factors that may influence cost, ensuring you avoid any costly mistakes in the selection process.

Feel free to contact us if you would like free advice on site selection, and learn how we can help you achieve your goals as a practice through the provision of a high-quality medical fitout.