Medical centre promises healthy investment

By Colin Taylor

The Hibiscus Coast Community Health Centre for sale in Whangaparaoa.
The Hibiscus Coast Community Health Centre for sale in Whangaparaoa.

The Hibiscus Coast Community Health Centre, a modern and fully tenanted investment property leased to the Waitemata District Health Board, is for sale at 136 Whangaparaoa Rd, Whangaparaoa.

The freehold property is marketed on behalf of the Vital Healthcare Property Trust by Warren Hutt and John Bedford of CBRE, and will be sold by deadline private treaty closing at 4pm on October 18, unless sold prior.

Hutt says that the primary and community care facility has a number of attributes that will appeal to investors.

"The Hibiscus Coast Community Health Centre has a sound tenant covenant, is in a successful suburban location, has a proven occupancy record with reliable passing income, and it has been meticulously maintained," Hutt says.

"The centre offers investors substantial government-backed net income and considerable expansion potential in a forecast growth area."

Completed in June 2001, the centre occupies a 4322sq m site zoned medium-intensity residential. With a net lettable area of 1430sq m over two levels, the building was purpose-designed as a community health centre. It is adjacent to the New Haven Hospital and not far from the Hibiscus Coast Village retirement complex.

Within the main entry area is a waiting room, seating area, children's playroom and reception facilities. Also on the ground floor are an administration area, four clinical rooms and five counselling rooms, and toilet facilities.

A hallway leads to a large occupational therapy room, a medical-equipment storage area, kitchen/utility room, offices, a staff room and kitchen. The centre has 90 on-site carparking spaces.

The first floor contains rooms of a similar fitout to the ground clinical rooms, but without hand basins. It also has a mix of open-plan and partitioned offices, two meeting rooms, a kitchenette, staff shower, and separate male and female toilets. A balcony extends to the north of the offices, with views over the Peninsula Golf Course which can be accessed from open-plan offices to the east. The building's plant room is located on this level with storage areas and communications equipment.

Bedford says the Waitemata DHB has occupied the property since 2001 and the current annual net income is $359,032 plus GST.

The DHB provides a range of community services from the Hibiscus Coast Community Health Centre, including district nursing, mental health provisions, occupational therapy, physiotherapy, social work and speech language therapy.

The property is on the northern side of Whangaparaoa Rd, about 1.2km from its intersection with Hibiscus Coast Highway between Silverdale and Orewa, and a 35-minute drive to the Auckland CBD.

Bedford says Whangaparoa is one of the fastest-growing areas in the Auckland region, with numerous residential developments in the wider area including Millwater in Silverdale and Kensington Park in Orewa.

- NZ Herald

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