Booming population underpins demand for Cambridge medical centre
The central Cambridge premises housing a medical hub serving a fast-growing and ageing population is for sale.
Located close to the Waikato town’s retail hub, the Cambridge Medical Centre offers a range of general medical and urgent care services, along with minor surgery and specialist nurse clinics.
Established in the 1970s, Cambridge Medical Centre at 46-48 Alpha St is fully leased to four established medical tenants generating a combined net rental income of $326,753 plus outgoings and GST per annum.
Anchored by the medical centre after which it is named, the site is also tenanted by Pacific Radiology, Unichem Cambridge Pharmacies and pathology service provider Pathlab.
Bayleys Hamilton salesperson Willem Brown said the property consisted of an approximately 849m2 building on nearly 1500m2 of freehold land on two titles, and nine on-site car parks.
‘‘The architect-designed building is modern and immaculately presented, inside and out, and has an A-plus Initial Evaluation Procedure seismic rating of 100% of New Building Standard,’’ Brown said.
‘‘The site is very user-friendly, with provision for wheelchairs, disability parks, emergency services entrances and good offstreet parking. Further free parking is available in surrounding streets.’’
The property is also central to the town centre where other health providers and financial and legal professionals are based, along with amenities such as supermarkets, cafes and restaurants.
Brown said demand for the centre’s essential health services was underpinned by compelling demographic trends in the wider Waipā district.
‘‘The population is projected to grow rapidly, and by 2050 an additional 27,000 people will be calling the district home. The population is also ageing, with around one-in-three residents expected to be over the age of 65 by 2050.’’
Zoned Residential by Waipā District Council, he said the property was situated in an area where surrounding homes, retirement villages and rest homes ensured constant demand for the centre’s medical services.
‘‘With its central location and exceptional diversified medical tenancies on favourable leases, the Cambridge Medical Centre is a smart, strategic investment that is certain to turn heads among buyers beyond Cambridge.’’