A prominently positioned medical centre in the rapidly growing Auckland suburb of Silverdale is available for purchase and will appeal to buyers looking for a property with development potential and long-term upside.
Sitting at 7 Polarity Rise in Silverdale, the two-storey building has approximately 3,149sq m of total floor area on a 6,048sq m freehold site that has an A-grade seismic rating.
Silverdale Medical leases the ground floor that is a modern, purpose-built clinic offering a full range of medical services, including GPs and urgent medical care.
A pharmacy is situated on-site, and the facility also provides physiotherapy, radiology, and dental services, as well as a wide range of specialist clinics.
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Southern Cross has a lease for the first floor tenancy until December 2027, however, this area has not yet been physically occupied.
An opportunity exists for an investor or occupier to complete and utilise this area to suit their specific requirements, with early termination possible.
This opportunity further benefits from the building being designed to support a third floor and 24-hour on-site generator, as well as a fully consented car park podium, above the current 78 on-grade parks to cater for additional development. Any potential development would be subject to council consent.
The property has a weighted average lease term of 2.9 years and returns approximately $1.245 million plus GST in net annual rental income. It is located within the Silverdale retail centre, a rapidly developing area just north of the existing Silverdale township.
The property is zoned Business Town Centre Zone under the Auckland Unitary Plan.
Colliers Directors Shoneet Chand, Josh Coburn, Blair Peterken, and Matt Prentice have been exclusively appointed to market the property for sale and are taking expressions of interest closing at 4pm on Wednesday 9 April, unless sold prior.
Chand, Director of Investment Sales at Colliers, says there is considerable potential attached to this top-tier property.
"With an established occupier on the ground floor, an owner-occupier could acquire the building and utilise the first floor in the near future, which is suitable for a range of medical and non-medical uses, while enjoying the rental income from the Silverdale Medical centre," Chand says.
"Those with a longer-term view may wish to develop the property and unlock further value through adding another level to the building."
Coburn, Director of Capital Markets and Site Sales at Colliers, says Silverdale, which is approximately 25 minutes drive from Auckland CBD in off-peak conditions, is developing into one of the principal commercial localities servicing the Hibiscus Coast.
"The suburb borders the substantial Millwater residential subdivision, which is one of New Zealand s fastest-growing residential catchments and is predicted to eventually house over 10,000 residents suggesting a further need for local medical facilities," Coburn says.
"Access to the Silverdale motorway interchange is available via Hibiscus Coast Highway, a short distance to the south, or alternatively through Wainui Road via Millwater."
Peterken, Director of Capital Markets at Colliers, says the surrounding mix of amenities adds to the appeal of the property s strategic location.
"Silverdale retail centre provides a mix of low-rise office and retail development together with large-scale residential offerings," Peterken says.
"To the west is a substantial bulk retail complex, including anchor tenants such as a Woolworths supermarket, Briscoes, Rebel Sport, and The Warehouse together with a number of smaller tenancies."
Prentice, Director of Sales and Leasing at Colliers, says when weighing up all of the relevant factors this is an opportunity that warrants serious consideration from buyers.
"The high-profile location and visibility of the property are strong selling points and there is considerable upside given the potential to capitalise on the existing consent for further development," Prentice says.
- Supplied by Colliers
