NZ Herald
  • Home
  • Latest news
  • Herald NOW
  • Video
  • New Zealand
  • Sport
  • World
  • Business
  • Entertainment
  • Podcasts
  • Quizzes
  • Opinion
  • Lifestyle
  • Travel
  • Viva
  • Weather

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • New Zealand
    • All New Zealand
    • Crime
    • Politics
    • Education
    • Open Justice
    • Scam Update
  • Herald NOW
  • On The Up
  • World
    • All World
    • Australia
    • Asia
    • UK
    • United States
    • Middle East
    • Europe
    • Pacific
  • Business
    • All Business
    • MarketsSharesCurrencyCommoditiesStock TakesCrypto
    • Markets with Madison
    • Media Insider
    • Business analysis
    • Personal financeKiwiSaverInterest ratesTaxInvestment
    • EconomyInflationGDPOfficial cash rateEmployment
    • Small business
    • Business reportsMood of the BoardroomProject AucklandSustainable business and financeCapital markets reportAgribusiness reportInfrastructure reportDynamic business
    • Deloitte Top 200 Awards
    • CompaniesAged CareAgribusinessAirlinesBanking and financeConstructionEnergyFreight and logisticsHealthcareManufacturingMedia and MarketingRetailTelecommunicationsTourism
  • Opinion
    • All Opinion
    • Analysis
    • Editorials
    • Business analysis
    • Premium opinion
    • Letters to the editor
  • Politics
  • Sport
    • All Sport
    • OlympicsParalympics
    • RugbySuper RugbyNPCAll BlacksBlack FernsRugby sevensSchool rugby
    • CricketBlack CapsWhite Ferns
    • Racing
    • NetballSilver Ferns
    • LeagueWarriorsNRL
    • FootballWellington PhoenixAuckland FCAll WhitesFootball FernsEnglish Premier League
    • GolfNZ Open
    • MotorsportFormula 1
    • Boxing
    • UFC
    • BasketballNBABreakersTall BlacksTall Ferns
    • Tennis
    • Cycling
    • Athletics
    • SailingAmerica's CupSailGP
    • Rowing
  • Lifestyle
    • All Lifestyle
    • Viva - Food, fashion & beauty
    • Society Insider
    • Royals
    • Sex & relationships
    • Food & drinkRecipesRecipe collectionsRestaurant reviewsRestaurant bookings
    • Health & wellbeing
    • Fashion & beauty
    • Pets & animals
    • The Selection - Shop the trendsShop fashionShop beautyShop entertainmentShop giftsShop home & living
    • Milford's Investing Place
  • Entertainment
    • All Entertainment
    • TV
    • MoviesMovie reviews
    • MusicMusic reviews
    • BooksBook reviews
    • Culture
    • ReviewsBook reviewsMovie reviewsMusic reviewsRestaurant reviews
  • Travel
    • All Travel
    • News
    • New ZealandNorthlandAucklandWellingtonCanterburyOtago / QueenstownNelson-TasmanBest NZ beaches
    • International travelAustraliaPacific IslandsEuropeUKUSAAfricaAsia
    • Rail holidays
    • Cruise holidays
    • Ski holidays
    • Luxury travel
    • Adventure travel
  • Kāhu Māori news
  • Environment
    • All Environment
    • Our Green Future
  • Talanoa Pacific news
  • Property
    • All Property
    • Property Insider
    • Interest rates tracker
    • Residential property listings
    • Commercial property listings
  • Health
  • Technology
    • All Technology
    • AI
    • Social media
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology
    • Opinion
    • Audio & podcasts
  • Weather forecasts
    • All Weather forecasts
    • Kaitaia
    • Whangārei
    • Dargaville
    • Auckland
    • Thames
    • Tauranga
    • Hamilton
    • Whakatāne
    • Rotorua
    • Tokoroa
    • Te Kuiti
    • Taumaranui
    • Taupō
    • Gisborne
    • New Plymouth
    • Napier
    • Hastings
    • Dannevirke
    • Whanganui
    • Palmerston North
    • Levin
    • Paraparaumu
    • Masterton
    • Wellington
    • Motueka
    • Nelson
    • Blenheim
    • Westport
    • Reefton
    • Kaikōura
    • Greymouth
    • Hokitika
    • Christchurch
    • Ashburton
    • Timaru
    • Wānaka
    • Oamaru
    • Queenstown
    • Dunedin
    • Gore
    • Invercargill
  • Meet the journalists
  • Promotions & competitions
  • OneRoof property listings
  • Driven car news

Puzzles & Quizzes

  • Puzzles
    • All Puzzles
    • Sudoku
    • Code Cracker
    • Crosswords
    • Cryptic crossword
    • Wordsearch
  • Quizzes
    • All Quizzes
    • Morning quiz
    • Afternoon quiz
    • Sports quiz

Regions

  • Northland
    • All Northland
    • Far North
    • Kaitaia
    • Kerikeri
    • Kaikohe
    • Bay of Islands
    • Whangarei
    • Dargaville
    • Kaipara
    • Mangawhai
  • Auckland
  • Waikato
    • All Waikato
    • Hamilton
    • Coromandel & Hauraki
    • Matamata & Piako
    • Cambridge
    • Te Awamutu
    • Tokoroa & South Waikato
    • Taupō & Tūrangi
  • Bay of Plenty
    • All Bay of Plenty
    • Katikati
    • Tauranga
    • Mount Maunganui
    • Pāpāmoa
    • Te Puke
    • Whakatāne
  • Rotorua
  • Hawke's Bay
    • All Hawke's Bay
    • Napier
    • Hastings
    • Havelock North
    • Central Hawke's Bay
    • Wairoa
  • Taranaki
    • All Taranaki
    • Stratford
    • New Plymouth
    • Hāwera
  • Manawatū - Whanganui
    • All Manawatū - Whanganui
    • Whanganui
    • Palmerston North
    • Manawatū
    • Tararua
    • Horowhenua
  • Wellington
    • All Wellington
    • Kapiti
    • Wairarapa
    • Upper Hutt
    • Lower Hutt
  • Nelson & Tasman
    • All Nelson & Tasman
    • Motueka
    • Nelson
    • Tasman
  • Marlborough
  • West Coast
  • Canterbury
    • All Canterbury
    • Kaikōura
    • Christchurch
    • Ashburton
    • Timaru
  • Otago
    • All Otago
    • Oamaru
    • Dunedin
    • Balclutha
    • Alexandra
    • Queenstown
    • Wanaka
  • Southland
    • All Southland
    • Invercargill
    • Gore
    • Stewart Island
  • Gisborne

Media

  • Video
    • All Video
    • NZ news video
    • Herald NOW
    • Business news video
    • Politics news video
    • Sport video
    • World news video
    • Lifestyle video
    • Entertainment video
    • Travel video
    • Markets with Madison
    • Kea Kids news
  • Podcasts
    • All Podcasts
    • The Front Page
    • On the Tiles
    • Ask me Anything
    • The Little Things
  • Cartoons
  • Photo galleries
  • Today's Paper - E-editions
  • Photo sales
  • Classifieds

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In
Advertisement
Advertise with NZME.
Home / Business

Picture-perfect Herne Bay earner

NZ Herald
1 Jul, 2014 05:00 PM4 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

With the NZ population getting older, a rest-home investment just cannot lose

A fully leased aged-care investment property in the heart of Auckland's upmarket suburb of Herne Bay is being marketed for sale as being "in the sweet spot" for high net worth and family trust investors.

"The facility occupies one of the few large parcels of land available in a central Herne Bay location," says Harold McCracken of CBRE who, with colleague Mark Calvert and Sue Bennett of Bennett Realty, is marketing the freehold property for sale and leaseback by deadline private treaty closing Tuesday, July 15, unless its sells beforehand.

"This is a highly attractive investment proposition," says McCracken. "The Jervois Private Hospital and Rest Home at 300-302 Jervois Rd offers a strong and stable 7 per cent net return on the purchase price with a lease back by a long-established, experienced and reputable aged-care operator who intends to continue running it."

The business comprises a 46-bed aged-care facility offering hospital and rest-home beds. Bennett says it is on large, beautiful grounds and consists of two large villas joined together to create one facility just 3km west of downtown Auckland.

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

"The villas were extended, redesigned and refitted between 1998 and 2001 to provide a 1396sq m dedicated aged-care, rest-home and hospital facility plus 18 on-grade car parking spaces," she says. "A series of tasteful refurbishments ensure that the building complies with modern safety standards while retaining the essential character of the home.

"In addition, large grounds create a belt of green around the buildings with plenty of space for residents to relax and enjoy the outdoors."

Bennett says the facility is certified for full hospital care and provides a mix of both rest-home and hospital accommodation with 46 beds, and a lower ground floor that includes administration offices.

"Inside the home is a range of accommodation options to choose from. All the rooms have different sizes and layouts, many of them showcasing original Victorian features. There are accommodation options for couples as well as en suite options. range of common areas, ranging from quiet and reflective to active and communal, adds flexibility to life in the home."

Advertisement
Advertise with NZME.

Bennett says it may be possible to convert the administration space to provide for additional rooms for residents with a higher level of dependency, and enhance occupancy levels within the facility to provide for a greater proportion of hospital beds.

Calvert says that TerraNova will enter into a leaseback on the property to continue its aged-care operation, paying a rent equivalent to 7 per cent of the sale price of the property.

He says TerraNova is a reputable and established player in the aged-care sector, owning five specialised residential care facilities in the North Island in Auckland, West Harbour, Hastings, Taupo and Lower Hutt.

"All of the company's homes carry current certification from the Ministry of Health and are contracted to the local district health boards to provide care ranging from respite to long-term care," Calvert says.

Discover more

Business

NZ fourth globally for real estate market transparency

28 Jun 01:45 AM
New Zealand

Car dealer told to pay up

28 Jun 05:00 PM
New Zealand

NZ's top auctioneer named

30 Jun 12:54 AM
New Zealand|politics

House hikes leave pay hikes for dead

30 Jun 05:00 PM

"The business is an ideal size, as it allows the generation of sufficient resources to invest in standards of care, while remaining small enough to provide individualised and localised care on each site."

With frontage to the southern side of Jervois Rd, the facility offers view shafts down Marine Parade towards the inner harbour. It is 250m to the west of the intersection of Jervois Rd and West End Rd.

"This is one of the few large parcels of land to be available in Herne Bay," says McCracken.

"It does not have aged-care competition in the surrounding area and the facility is surrounded by substantial single family homes."

Calvert says there's no doubt property values are underpinned by the New Zealand's ageing demographic.

"Properties with the style, standard and operation of Jervois Private Hospital and Rest Home can expect to provide a high-quality investment prospect for many years to come," he says.

Advertisement
Advertise with NZME.

Features

• Aged-care hospital and rest home with 46 beds.
• Ideal Herne Bay location in affluent city suburb.
• 7 per cent net annual rental return on purchase price.
• Lease back to established reputable aged-care operator.
• Potential to increase number of rooms.
Large landscaped grounds.

Save

    Share this article

Latest from Business

Premium
Personal Finance

Company that lends flexible line of credit for divorce proceedings launches in NZ

13 Jul 05:00 AM
Construction

Insulation rule changes could cut $15k from new build costs

13 Jul 04:00 AM
Premium
Opinion

Phil O'Reilly: NZ business must rethink how it sees Europe

13 Jul 03:00 AM

Audi offers a sporty spin on city driving with the A3 Sportback and S3 Sportback

sponsored
Advertisement
Advertise with NZME.

Latest from Business

Premium
Company that lends flexible line of credit for divorce proceedings launches in NZ

Company that lends flexible line of credit for divorce proceedings launches in NZ

13 Jul 05:00 AM

Aussie lender JustFund aims to bring over 100 Kiwi law firms on board by the end of 2025.

Insulation rule changes could cut $15k from new build costs

Insulation rule changes could cut $15k from new build costs

13 Jul 04:00 AM
Premium
Phil O'Reilly: NZ business must rethink how it sees Europe

Phil O'Reilly: NZ business must rethink how it sees Europe

13 Jul 03:00 AM
Premium
Sasha Borissenko: Is gig work freedom or friction?

Sasha Borissenko: Is gig work freedom or friction?

13 Jul 12:01 AM
Gold demand soars amid global turmoil
sponsored

Gold demand soars amid global turmoil

NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • NZ Herald e-editions
  • Daily puzzles & quizzes
  • Manage your digital subscription
  • Manage your print subscription
  • Subscribe to the NZ Herald newspaper
  • Subscribe to Herald Premium
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP