Medical investment option in Takanini
A medical centre in Takanini with established tenants in a prominent corner site will be highly appealing for buyers.
27/108 Great South Rd, Takanini is home to Takanini Surgery where general practitioners, physiotherapists and specialists serve the nearby areas of Takanini, Papakura, and Manukau.
The property has 108sq m of total net lettable area and the current occupants began a 10-year lease in September 2020 with two further rights of renewal for five years each, leading to a final expiry of August 2040.
The annual rental income is $90,000 plus GST, while there are future market reviews in place.
Sitting in the Takanini Gateway, an architecturally designed and recently constructed suburban retail centre, the site experiences huge traffic flow and road exposure that ensures a steady stream of customers.
Colliers brokers Steven Harris, Tony Marsh and Matthew Barnes are marketing the property for sale by auction on Wednesday 28 September, unless sold prior.
Harris says the property is a topquality purchasing opportunity underpinned by a strong tenant covenant. “The existing occupiers have quickly proven themselves as trusted and skilled medical professionals and their commitment to the site is evident through a longterm lease,” Harris says.
“The property also provides a sizeable rental stream and there are market rent reviews scheduled for every two years, making this a prime passive investment.”
Marsh says Colliers’ recent research notes the healthcare sector has experienced steady growth as an investment class during the past few years.
“While New Zealand’s life sciences and healthcare property sectors are not as progressed as some other major offshore markets, there is ongoing activity from a small but increasing number of parties as investors have spotted opportunities in the market.”
Barnes says Takanini is a rapidly changing area that continues to undergo significant development. “The wider Takanini area is home to a number of local and national retailers and trade outlets. There is excellent access to public transport from the Takanini Gateway, while the Takanini train station is only 500m away.”