As demand for investment opportunities in the healthcare sector continues to grow, a medical centre in Takanini with established tenants in a prominent corner site will be highly appealing for buyers.
27/108 Great South Road, Takanini is home to Takanini Surgery where general practitioners, physiotherapists, and specialists serve the nearby areas of Takanini, Papakura, and Manukau.
The property has 108sq m of total net lettable area and the current occupants began a 10-year lease in September 2020 and have two further rights of renewal for five years each leading to a final expiry of August 2040.
The annual rental income from the lease agreement is $90,000 plus GST, while there are future market reviews in place.
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Sitting in the Takanini Gateway, an architecturally designed and recently constructed suburban retail centre, the site experiences huge traffic flow and road exposure that ensures a steady stream of customers.
The Takanini Gateway is surrounded by a large number of shared customer car parks, which can be accessed via three entry points with illuminated signage, providing further exposure.
Colliers Brokers Steven Harris, Tony Marsh, and Matthew Barnes have been exclusively appointed to market the property for sale via auction to be held at Colliers Highbrook, Level 1, Colliers House, 52 Highbrook Drive, East Tamaki at 11am on Wednesday 28 September, unless sold prior.
Harris, Investment Sales Broker at Colliers, says the property is a top-quality purchasing opportunity underpinned by a strong tenant covenant.
“The existing occupiers have quickly proven themselves as trusted and skilled medical professionals and their commitment to the site is evident through a long-term lease,” Harris says.
“The property also provides a sizeable rental stream and there are market rent reviews scheduled for every two years, making this a prime passive investment.”
Marsh, Investment Sales Broker at Colliers, says recent research from Colliers notes the healthcare sector has experienced steady growth as an investment class during the past few years.
“The key points from the research report noted an ageing population in New Zealand alongside an increasing life expectancy, the rising prevalence of chronic and transferable diseases such as Covid-19, and the shift in people’s attitudes towards health and wellbeing,” Marsh says.
“While New Zealand’s life sciences and healthcare property sectors are not as progressed as some other major offshore markets, there is ongoing activity from a small but increasing number of parties as investors have spotted opportunities in the market.
“As the sector continues to experience ongoing growth, the demand for investment opportunities such as the subject property will only intensify.”
Barnes, Director of Investment Sales at Colliers, says Takanini is a rapidly changing area that continues to undergo significant development.
“The property is part of a modern multi-unit complex featuring blue-chip operators, including Takanini Pharmacy and Domino’s Pizza,” Barnes says.
“The wider Takanini area is home to a number of local and national retailers and trade outlets. There is excellent access to public transport from the Takanini Gateway with multiple bus stations in walking distance, while the Takanini train station is only 500m away.
“When examining all of the pertinent factors in play such as established tenants signed to a long-term lease in a highly visible location, this property shapes as an outstanding purchasing opportunity and we encourage all interested parties to contact us immediately.”
- Article supplied by Colliers
