A redeveloped medical centre in the affluent Auckland suburb of Remuera is available for purchase and offers buyers the opportunity to acquire a premium asset with strong tenant covenants.
Located in the heart of the Remuera shops at 333 Remuera Road, the property has a total lettable area of approximately 1,670sq m on a site that spans 844sq m and is zoned Business – Town Centre Zone under the Auckland Unitary Plan.
This state-of-the-art facility, known as Health Hub Remuera, has striking street appeal and is home to a complementary mix of medical tenants, including a Unichem pharmacy, Remuera Doctors, and Resonate Hearing.
The existing tenants have all signed 10-year lease agreements that run until 2034, indicating their commitment to the location.
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The property has some current vacancy that is drawing strong enquiry and the estimated income when fully leased is approximately $1.3 million plus GST, according to a rental appraisal by Colliers.
There are 34 designated car parking spaces, along with two additional accessible spaces at the rear of the property. These parking spaces are located on a neighbouring property, with usage rights secured through a registered parking easement.
The building enjoys a north-facing position and benefits from excellent visibility and accessibility. It is also surrounded by an extensive array of amenities, including a supermarket, cafes, and retail stores.
Colliers Directors Blair Peterken and Peter Herdson have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Thursday 1 May, unless sold prior.
Designed by Fearon Hay Architects, the two-level property features cutting-edge building services.
There is an ultra-modern glass facade along Remuera Road, complemented by a striking mesh screen facing the Norana Avenue car park.
The rear canopy is defined by a series of circular, fabric structures, adding a unique architectural element. Inside, the sleek circulation zones feature textured walls, polished floors, exposed ceilings, translucent panelling, and feature lighting, creating an ambiance reminiscent of a contemporary art gallery.
Peterken, Director of Capital Markets at Colliers, says the property is a top-tier investment opportunity given the strength of the tenant covenants among the existing occupants.
“The current lease agreements offer indexed rental growth that will be highly appealing for prospective buyers and the tenants are well-known medical businesses in the local area that serve the Remuera community,” Peterken says.
“Given the extensive refurbishment of the property and the coveted address this is a property with extensive upside and will pique the interest of discerning investors.”
Remuera is known for its premium lifestyle, with tree-lined streets, high-end shopping, and fine dining all within close reach. Properties of this quality in Remuera are rarely presented to the open market.
Herdson, National Director of Capital Markets at Colliers, says the property’s strategic location along a key arterial route ensures excellent connectivity to Auckland’s central business district.
“With well-established transport links and nearby public transport options, it offers convenient access for both local residents and commuters with the CBD only 4km away,” Herdson says.
“The property benefits from its proximity to high-end residential developments such as Victoria Lane with more potentially on the way in the future to bolster the facility’s customer base.
“This prime location makes the property not only highly accessible but also desirable for businesses looking to serve an affluent clientele.”
- Supplied by Colliers
