Napier Health Centre building back on the market

It is the closest thing Napier has to a hospital - and it’s back on the market.

The Napier Health Centre on Wellesley Rd went up for sale last year but was swiftly taken off the market due to the disruption of Cyclone Gabrielle.

It is now up for sale once again and being marketed by real estate company Colliers.

If the property sells, it won’t impact health services on offer in the building including the 24/7 urgent medical centre, as there is a lengthy lease in place with Health NZ - Te Whatu Ora Hawke’s Bay.

The lease for the property lasts another 10 years with an option to extend it until 2045.

Health NZ - Te Whatu Ora Hawke’s Bay has previously declined an offer to buy the property opting rather to remain a leaseholder.

“Having just completed a seismic upgrade on the property, the owners, Vital Healthcare Property Trust, are looking to sell the property to focus on several health precinct development projects across New Zealand,” a Colliers statement read.

When it hit the market last year, Vital Healthcare stated the property had a book value of almost $20 million.

Napier Health Centre is back on the market. Photo / Colliers

The two-storey building was purpose-built in 1999 and includes 4295sq m of “lettable area” plus 109 car parks.

“The building has a central atrium with double-storey height and a wave-shaped steel truss structure supporting the atrium roof,” a Colliers statement read.

Colliers Hawke’s Bay director Danny Blair said properties like this one, with such a strong tenant covenant, were seldom seen on the open market in the region.

“This is one of the most attractive passive investments we will bring to the market this year.”

Colliers says the annual income from leasing out the property at 76 Wellesley Rd, including premises and car parks, is about $1.3m.