Split-risk medical asset on the Shore
A split-risk medical facility in the heart of Auckland’s Browns Bay has come onto the market for the first time since its redevelopment in 2005.
The property offers three longstanding tenants under the one roof – Calder Chiropractic, North Shore Dental, and Chrysalis Beauty. The three tenancies bring in a net per annum income of more than $238,000.
The building sits on 761 Beach Road and the near rectangular site extends more than 1900sqm and has ample carparks with 32 on site while the medical facility building has a net lettable area of more than 674sqm
JLL Agent David Mayhew, who is marketing the property with colleague Euan Stratton, says with solid tenancies, a growth location, and essential services, this is the perfect opportunity for investors that are seeking a defensive asset.
“We’ve seen increased investor interest in the healthcare sector because unlike other sectors, its performance does not rely on the economy as a key demand driver."
“This is an especially rare opportunity as it allows the buyer to acquire an impeccably presented and modern healthcare facility nestled in a bustling beachfront community.”
Stratton says a fundamental part of this property is its location as
Browns Bay is a key growth area for Auckland.
“Browns Bay has seen a surge of growth in recent years and this is expected to continue. Several residential developments have recently reached completion and there are more already underway and even more in the pipeline,” he says.
“The area already boasts a high socio-economic demographic with two supermarkets, a primary school, and three retirement villages catering to the ageing population and adding to the facility’s client base.
761 Beach Road in Browns Bay is for sale by deadline private treaty, closing September 23.