Award-winning medical complex in booming Castlecliff
The modern, purpose-built premises housing a national awardwinning medical centre have been put up for sale in Whanganui’s fastest-growing commercial and industrial hub.
The property for sale at 5 Rakau Road is home to the only medical facility in the Whanganui suburb of Castlecliff. The complex was built in late 2017 for Castlecliff Health, recently renamed as Living Waters Medical, which is now seeking to sell the premises under a long-term leaseback arrangement as it looks to expand its business.
Living Waters Medical will pay net annual rent of $140,000 plus outgoings and GST on a lease extending to 2029, with four further four-year rights of renewal. The lease incorporates annual CPI rental increases capped at two per cent and market rent reviews every four years.
The new facility, established with a mission to tackle the healthcare requirements of the high-needs Castlecliff community, won the national MediSpace Good Space Award at the NZ Primary Health Care Awards 2020. It is the only private clinic in Whanganui offering services under the Government’s Very Low Cost Access scheme.
The freehold land and buildings at 5 Rakau Road, Castlecliff, Whanganui, are now being marketed for sale through Bayleys Whanganui, by way of an auction on Friday 4 June, unless sold earlier.
Salesperson Russell Duggan said the single-storey 500sqm medical centre sat on an approximately 2367-sqm site with 20 car parks for customers and staff.
“The building is a high-quality, low-maintenance Totalspan steelframe construction. It was built and fitted out to a high standard to accommodate a variety of services, with room for expansion.”
Duggan said the Rakau Road facility had been lauded by industry award judges for its original and imaginative design.
“The facility was designed from the outset as a place of health and well-being. The sense of space and lighting are optimized throughout with high ceilings and natural light, based on evidence these support positive health outcomes.”
Disability access has been carefully planned throughout the complex, as have facilities for children in the waiting areas, he said.
“The facility contains eight consultation rooms, a surgical room, a clinical storage room, a sluice room and laundry, a large office, a meeting room and a spacious staff area.
The Rakau Road property has an A+ Grade seismic rating and is zoned Industrial (7A) under Whanganui District Council’s district plan.
Duggan said that, with a lack of available commercial and industrial property in Whanganui’s main industrial precinct, Rakau Road was now the “place to be” for new developments, relocating businesses and to service the expansion needs of the industrial sector.
“The wider Castlecliff community is also on the rise, having attracted significant public and private sector investment under the council’s master-planned Castlecliff Rejuvenation Project.
“With a nationally-awarded essential-service tenant in growth mode at this key location on a longterm lease, the property at 5 Rakau Road is likely to grab the attention of investors across Whanganui and well beyond.”