A multi-tenanted medical facility in Waiuku is being offered to the market for sale, giving prospective purchasers the opportunity to acquire a top-tier investment that is underpinned by a strong tenant covenant.
30 Constable Road, Waiuku has 2,095sq m of total floor area on a 4,008sq m freehold site. Construction was completed in 2010 and the building has a 100 per cent NBS rating.
Waiuku Health Centre is the anchor tenant at the property while there are eight supporting tenancies, including a pharmacy, dentist, lab collection rooms, counselling services, a physiotherapy clinic, and an audiology facility.
There is also an on-site cafe.
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The total annual rental income from the property is $800,448 plus GST and operating expenses.
The majority of the tenancies run well into the 2030s with some into the following decade.
One unit spanning 83sq m is vacant allowing the new owner to potentially grow the rental income, while all the current tenants have a rent review scheduled for October.
The purpose-built facility benefits from its strategic location in Waiuku's established commercial precinct and offers easy accessibility and plenty of car parks.
Waiuku is approximately 20 minutes from Pukekohe and 64km from Auckland s CBD.
The property is zoned Business - Mixed Use Zone under the Auckland Unitary Plan.
Colliers Directors Duncan Bell and David Burley have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Wednesday 4 March, unless sold prior.
Set on a prominent corner site, this well-configured building offers a flexible platform for owner-occupiers, investors, and healthcare operators seeking a high-quality medical facility in a growing South Auckland catchment.
Bell, Director of Investment Sales at Colliers, says a range of buyers will have considerable interest in this purchasing opportunity.
"With rental income in place from a collection of established and long-term tenancies, buyers seeking a passive investment could further grow the rental stream by reconfiguring some of the periodic tenancies.
"Leasing the vacant unit could also add approximately $40,000 in annual rental income based on market estimates," Bell says.
"Meanwhile, an owner-occupier could utilise some of the space for their own operations and enjoy the income from the other providers.
"Buyers with a long-term view could potentially expand or grow the footprint of the facility in the future due to its favourable zoning."
Waiuku's population was approximately 9,500 people in 2023, according to data from the Census and has steadily grown across the past decade.
The Waiuku Health Centre and other tenancies serve a broader population of over 14,500 people that includes the large rural community surrounding Waiuku.
The Waiuku Business and Development Association Strategic Plan for 2024 to 2029 forecasts population growth of approximately 4,000 people in Waiuku in the coming years, which will lead to more demand for essential services such as medical facilities.
Burley, Auckland Director of Investment Sales at Colliers, says Waiuku is currently benefiting from ongoing commercial and industrial growth, and the town is a key service hub for the surrounding rural and coastal communities.
"The subject property s central location and accessibility combined with its diverse range of services make it a valuable community asset," Burley says.
"As the broader New Zealand population continues to age, the demand for medical facilities such as this one will only strengthen."
- Supplied by Colliers
