A medical centre in the high-growth location of Silverdale on the Hibiscus Coast in Auckland is being offered to the market for sale.
Sitting at 7 Polarity Rise, the architecturally designed, large-scale facility is home to Silverdale Medical.
Spanning two levels, the building has approximately 3,149sq m of total floor area and is positioned on a 6,048sq m freehold site that has significant exposure to Hibiscus Coast Highway. The property returns $1.328m plus GST in net annual rental income.
Silverdale Medical occupies the entire ground floor and is a modern, purpose-built offering with a full range of medical services including physiotherapists, general practitioners, urgent medical care, an on-site pharmacy, and a dental clinic.
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The 1,660sq m first floor at the facility is leased to Southern Cross until December 2027 but remains unoccupied creating future tenancy considerations.
Further value-add opportunities could be explored around the development of an additional level on the existing structure or adding a car park podium, which a consent has previously been granted for.
Silverdale is rapidly developing into one of the principal commercial localities on the Hibiscus Coast. It sits near the Millwater and Milldale subdivisions, which are expanding quickly, while also having a growing residential catchment of its own.
The property is zoned Business - Town Centre Zone under the Auckland Unitary Plan.
Colliers Directors Shoneet Chand and Blair Peterken have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Tuesday 14 April, unless sold prior.
The facility was constructed in 2012 and has 78 dedicated car parks, as well as a 24-hour on-site generator to provide resiliency for the tenants.
Chand, Director of Investment Sales at Colliers, says buyers have the chance to acquire an asset that offers considerable rental income, while providing long-term upside.
"As the first floor sits vacant with the tenant not occupying the premises, the purchaser could configure this level of the property to meet their requirements or that of a new tenant. There is scope for an early lease termination with Southern Cross, providing further flexibility," Chand says.
"An owner-occupier could develop a customised fit-out for the upper floor and enjoy the rental stream from the existing tenancy on the ground floor. Alternatively, the buyer may choose to lease the first floor to a new tenant.
"Given the opportunity exists to add a further level on top of the structure or expand the car park offering, there are multiple ways the new owner could intensify the usage of the property."
The building is surrounded by a dynamic retail precinct that includes Silverdale Mall. Nearby household brands such as Rebel Sport and Briscoes are only moments away, while there is easy access to a supermarket and other daily conveniences.
Data from Infometrics notes the Silverdale area has experienced consistent population growth during the past decade.
Peterken, Director of Capital Markets at Colliers, says the property's prominent location makes it a highly visible asset that has a commanding road presence.
"Perched in a gateway position at the high point of Hibiscus Coast Highway and adjacent to swimming and fitness centre Northern Arena, the property benefits from high volumes of passing traffic in an accessible location," Peterken says.
"This exceptional offering provides developers, occupiers, and investors with multiple pathways to unlock further value in a blue-chip medical asset."
- Supplied by Colliers
