Good prognosis for Med Centre
The building housing Otahuhu Medical Centre is on the market for the first time since 1983.
JLL agents Sam Smith and Mitch Broderson are selling the freehold property. Expressions of interest close on April 10.
The rectangular concrete and masonry block building has a floor area of 742sq mon a 1353sq msection. An independent earthquake report recently rated the building at 70 per cent of the New Building Standard.
“This property is tenanted by a community medical centre with a tenant- mix including a doctor, pharmacy, optometrist and dentist,” says Smith.
Having two levels and space for four additional tenancies, this property offers excellent opportunities for any astute investor, he adds. “It is also zoned for residential apartments and terraced housing under the Unitary Plan. This zoning allows for development of up to 16.5m in height, giving purchasers a wide range of options.”
The brokers point out Otahuhu’s proximity to Auckland International Airport. The new bus station and existing train station form part of a new transport hub.
“The area has a good mix of small, medium and large size commercial properties and caters for a wide range of businesses,” Broderson says.
JLL National Research Manager Tom Barclay says the Otahuhu area is set to see substantial growth over the next 25 years.
“Statistics New Zealand forecasts a 33 per cent increase in population within the Otahuhu local board area. This equates to an increase of over 26,000 people,” says Barclay. “The growth in population will come as a result of higher density living and the property on Church St i s well positioned to take advantage of this trend.”