Award-winning health hub for sale
The award-winning medical facility housing the South Island’s biggest skin cancer clinic and a leading plastic surgeon has gone up for sale in Christchurch.
The more than 1200sq m, modern twostorey facility known as Avenue Health sits prominently on Bealey Ave, amid specialist health providers in the central city.
The property is fully leased to KM Surgical Ltd and Plastic Surgery Associates with a weighted average lease term of over 8.5 years. It generates a total net annual rental return of $653,140 plus outgoings and GST.
KM Surgical is a specialist medical and surgical provider affiliated with Southern Cross and the NZ Dermatological Society. It pays annual net rent of $525,000 plus outgoings and GST for its 861sq m premises with 25 carparks. The current lease runs through to 2031 with two further seven-year rights of renewal and built-in annual rental growth of 2 per cent.
Plastic Surgery Associates covers a wide range of conditions and procedures, with a specialist interest in complex reconstructive surgery of the hand, head and neck. Its
382sq m facility with 11 carparks generates a net annual rental return of $128,140 plus outgoings and GST on a lease that extends to 2028 with a further seven-year right of renewal.
The freehold medical facility at 198-202
Bealey Ave is being marketed by Mike Houlker, Cameron Melhuish, Sunil Bhana, William Wallace and Ryan Kerr of Bayleys Real Estate. Sale is by way tender closing on Thursday 24 November unless sold prior.