The Terrier – Carol Altmann

Just when the whole saga of Lyndoch Living buying the Warrnambool Medical Clinic practice could not get any weirder, it has.

Lyndoch paid $1.3 million in 2019 for the practice, owned by well-respected GP Dr Phil Hall – but it did not buy the building.

The Liebig St building was sold on 29 July for upwards of $1.4m to an anonymous “local investor” who I can tonight reveal is none other than Dr Phil Hall.

(Land Title documents show Dr Hall was already a co-owner of the building, and bought out his partners.)

This means Dr Hall not only works for Lyndoch under contract, but he will be its landlord ($120k a year + GST) until the lease expires next July.

But that’s not the bomb.

The bomb is that the “local investor” (aka Dr Hall) reportedly wants to see the Liebig St building leased as a medical clinic after Lyndoch leaves.

“Their intent is that it remain a medical clinic beyond the current tenant’s stay,” real estate agent Danny Harris told the local paper at the time of the sale.

A medical clinic!

It’s this prospect that exposes a gaping hole in Lyndoch paying $1.3 million to buy the medical practice in the first place.

What did it actually buy?

It bought “goodwill”, which means doctors on contract and the patients who follow them.

But it appears the deal failed to include a crucial clause that the former owner of that practice could not lease a building to a competitor.

Oops.

This failure exposes the fragility of Lyndoch’s decision to wade into medical practice.

As we know, Lyndoch is spending $22 million on a brand new, three-storey, 6761 sq/m complex on Hopkins Rd that it hopes to fill with 20 GPs and other health workers.

Those 20 GPs are the backbone of the whole clinic plan.

They will each pay a substantial fee – around 35 per cent of their annual earnings – in return for a space in the clinic and support services.

But there are no guarantees the GPs will come, or will stay, because GPs are contractors: they decide where they will work, and for how long.

If a GP working for Lyndoch/Warrnambool Medical Clinic wants to leave, they simply give 30 days notice.

My sources tell me the contracts signed between the GPs and Lyndoch expire next April.

This means all bets are off until new contracts are negotiated.

As of next April, Lyndoch could – in a worst case scenario – find itself with less doctors, not more.

Lyndoch was already in a vulnerable position, but that position will become a razor edge if Dr Hall follows through on his reported plan and offers his prime slice of real estate to a new medical clinic.

Who will take up the offer, and how many GPs from Lyndoch/WMC and elsewhere (will Dr Hall be among them?) will join its ranks?

I asked Dr Hall for a comment for this piece, but he declined.

Carol Altmann – The Terrier

One of the strangest stories to pop up before the May Races kicked into full swing was that West Australian trainer Lindsey Smith was “asked” to take over Darren Weir’s stable complex at the Warrnambool racecourse.

Why is this worth a closer look?

Well, first, Smith is based several thousand kilometres away in Casuarina, suburban Perth, from where he has enjoyed major success as a trainer for the past 25 years. He intends to stay in Casuarina, but would employ people to run Warrnambool as a satellite stable…why?

Second, who is this person who “asked” Smith to take over the stables? All we know is that it is a “mystery buyer” who, despite all the efforts to clean up racing, is allowed to remain a mystery even though that person has paid more than $1 million for Weir’s 43 stables and comes from north-east Victoria.

Perhaps they live not that far from Maldon, where Weir was based. Who would know?

Third, Smith freely acknowledges he is a mate of Weir. In the past, Weir would stay with Smith in WA and Smith would stay with Weir in Victoria. 

 

Lastly, and perhaps strangest of all, Smith confirmed he was considering taking over the Weir stables just a week after Racing Victoria rejected a bid by local trainer Jarrod McLean.

McLean was apparently the first choice of the “mystery buyer” to take on Weir’s stables, but had his somewhat audacious application knocked flat by Racing Victoria.

McLean, as we know, was also Weir’s foreman and is facing his own string of racing related charges, including possession of a jigger, and is part of an ongoing police investigation following raids in January.

While McLean has been banned from racing in NSW until the charges are heard by Racing Victoria, he has been allowed to continue in Victoria until his hearing in Melbourne on May 22.

What hasn’t been made clear – locally – is that Smith and McLean are buddies too.

When travelling for training and race meetings, they have stayed at each other’s houses. Most importantly, McLean can attribute a lot of his success as a solo trainer to the generosity of Smith.

 

It was Smith’s former horse, Trap for Fools, that won McLean the $2 million Mackinnon Stakes last October after he took over the training.

And in August last year, McLean won the $250,000 Grand National Hurdle at Sandown with another of Smith’s former horses, Cougar Express. Earlier this year it was revealed Smith was passing on yet another of his former champions, Scales of Justice, to McLean’s stable.

Smith has said in interviews that, if he does takeover Weir’s stables in Warrnambool, he will not be offering McLean a job. (That might be because McLean soon won’t be able to apply.)

Surely Racing Victoria is all over this.

 

It will consider Smith’s application to become a licensed trainer in Victoria next month and, no doubt, be taking a very close look at the whole Weir-Smith-McLean relationship and suggestions  that Smith is merely keeping the seat warm.

In the meantime, Smith has already predicated his “move” to Warrnambool on having all-year-round access to our local beaches for racehorse training, which means access to Levy’s Beach.

This, of course, was also a main priority for Weir and McLean. Funny, that.

In the often murky world of racing, it seems the more things change, the more they stay the same.

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