The land and buildings of a highly visible medical facility in central Taupō are being presented to the market for sale and the property shapes as a highly appealing purchasing opportunity for buyers.
Located at 113-115 Te Heuheu Street, the property comprises two separate buildings offering a total floor area of 789sq m on a 1,682sq m site.
Taupō Health Centre Limited is the anchor tenant at the property. It is owned by a group of medical doctors and offers a variety of services with a dedication to providing quality healthcare and a focus on holistic health and wellbeing. Nine doctors currently work at the facility.
A Unichem pharmacy is also located within this building, offering further convenience to patients and customers.
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The secondary building at the property is home to TRG Imaging, a leading provider of diagnostic imaging services in the North Island with 23 locations. They offer ultrasounds, x-rays, pregnancy imaging, and mammography, among other services.
Taupō Health Centre s 10-year lease runs until June 2027 and they have one further right of renewal for 10 years with a final expiry of 31 May 2037.
The pharmacy s lease runs until 31 May 2027, while TRG Imaging is in the midst of a lease that runs until August 2025 and there are two further rights of renewal for three years each, leading to a final expiry of 1 August 2031.
Across all three tenants the net annual rental income from the property is $263,663 plus GST and outgoings.
Hugh Milloy, Investment Sales Broker at Colliers Taupō, has been exclusively appointed to market the property for sale with the deadline for offers closing at 4pm on Thursday 18 July, unless sold prior.
Te Heuheu Street is a primary access route into Taupō's CBD from the eastern suburbs and is one of its busiest streets with average daily passing traffic numbers of approximately 8,000 vehicles.
Sitting only 400m from both the lakefront and CBD, this strategically located asset is one not to be missed, according to Milloy.
"The Taupō Health Centre sits among a cluster of medical service providers and is one of the two largest medical practices in Taupō," Milloy says.
"Meanwhile, the Unichem brand is well-known in New Zealand given they have more than 250 outlets across the country. TRG Imaging have been in business since 2004.
"The lease agreements also include future market and CPI-determined rent reviews, offering enhanced rental income for the new owner."
The Taupō District population has grown by 8.3 per cent from 2018 to 2023, according to data from the latest Census. This reflects the popularity of the area s stunning natural landscape and desirable lifestyle that offers residents access to a host of outdoor activities.
This increase in population points to a strong growth in demand for medical services, suggesting the subject property will remain a valuable asset for the community.
Data from Stats NZ also points to the ongoing need for medical facilities across New Zealand as the population ages.
Between 2022 and 2028, the number of people aged 65-plus will increase by almost 20 per cent, reaching around 1 million people. This is projected to reach 1.3 million people by 2040 and around 1.5 million people by the 2050s.
The subject property is zoned High Density Residential Environment within the KTHD zone, which allows for site coverage of 50 per cent and a plot ratio of 100 per cent and Milloy says this provides potential for future expansion of the health centre.
Buyers with a long-term view of the property may value the opportunity to intensify the usage of the site in the future through a development, subject to the relevant consents.
- Supplied by Colliers
