The two-level medical centre that is home to Waiuku’s long-established GP practice and complementary healthcare occupiers is being presented to the market for sale.
Located at 30 Constable Road, the centre was opened in 2010 and brought together general practice, pharmacy, dental, pathology, audiology, allied health, counselling, and community health services on one site.
The property, known as Waiuku Health Plus, has 2,095sq m of total building area and sits on a 4,008sq m freehold site that is zoned Business – Mixed Use Zone under the Auckland Unitary Plan.
The annual passing income from the property as of 30 October is approximately $857,876 plus GST and operating expenses, and the weighted average lease term is five-and-a-half years. There is built-in rental growth through a mixture of uplift mechanisms.
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There are 73 on-site car parks offering convenience for patients and customers.
Waiuku is just over 60km from central Auckland and is the service town for south-west Franklin. Waiuku Health Plus is where the surrounding rural and coastal communities come for healthcare.
The town centre provides shopping, schools, banking, and health services for the town and a large rural and coastal hinterland. That hinterland stretches from Glenbrook, Patumahoe, Otaua, Aka Aka, and Karioitahi to the Awhitu Peninsula and north to the Manukau Heads.
Duncan Bell, Director of Investment Sales at Colliers, has been exclusively appointed to market the property for sale via deadline private treaty closing at 2pm on Wednesday 2 December, unless sold prior.
The centre fronts Constable Road, around 500m from Queen Street, Waiuku’s main street and retail centre, with Waiuku College and a New World supermarket close by.
The GP practice serves as the anchor tenant and provides 51 per cent of the rental income, while occupying space on the ground floor and Level 1.
The practice recently extended its downstairs lease to October 2035 and renewed its upstairs lease to October 2029, with rights of renewal through to 2047.
Bell says the vendor has invested in the maintenance of the building, and it is in excellent condition.
“In the year to March 2026, more than $100,000 has been spent on routine repairs and maintenance and the vendor has also committed capital to replacing the building’s HVAC system, reinforcing its sustainability,” Bell says.
“The facility has an established occupier base and a 16-year track record of operations, while there is a vacant 84sq m suite on Level 1 that could also be leased to generate further income from the property.
“With a mix of health occupiers under one roof, there is a flow of customer referrals within the building that strengthens the centre’s position as Waiuku’s first stop for healthcare.”
Waiuku’s population was 9,531 in 2023, according to the Census, and the town is part of the Franklin Local Board, an area that is rapidly growing. Stats NZ projects the population of the wider Franklin district will grow by more than 70 per cent between 2023 and 2048.
Waiuku and the surrounding areas have a population of approximately 15,000, and the medical practice at Waiuku Health Plus has an enrolled list of around 13,000 patients.
“The local population is older than the Auckland average, a key trend that supports a continued need for healthcare services that are provided at the subject property,” Bell says.
“This property offers investors the chance to secure an asset with a diverse income stream that is underpinned by a longstanding anchor tenant.”
- Supplied by Colliers
