The land and buildings associated with the Kāpiti Coast’s only purpose-built skin cancer clinic are for sale, providing an opportunity for passive private investors to acquire a commercial asset in the sought-after healthcare sector.
Developed in 2019 by Dr Roland Lotsu and his wife Audrey, the founders of St Joseph Skin Cancer Centre, the comprehensive state-of-the-art facility at 2 Presentation Way, Paraparaumu will be sold to release capital to put back into their successful and growing business.
The 640sqm building sits on the northern half of a 2,411sqm freehold site with the balance concrete-sealed providing 27 on-site car parks with drive-around capability allowing for safe and easy deliveries and client/staff movement.
The complex is configured to provide 11 consultation rooms, two theatre rooms with associated recovery room, preparation areas, separate office, reception and waiting areas, bathroom amenities and well-appointed kitchen/staffroom.
The building has also been cleverly future-proofed with the eastern portion having separate access and currently comprising sub-leased quality office space with dedicated amenities.
St Joseph Skin Cancer Centre has just committed to a new six-year lease paying annual net rental of $253,490.00 plus GST, and responsible for all outgoings. There are two further three-year rights of renewal, rent reviews to CPI and market, and guarantees within the lease.
The property is being marketed by Jo Stewart of Bayleys Wellington Commercial and will be sold by auction 11am, Thursday 21st September.
Stewart says there is a lack of quality investment product in the market currently and medical assets always sit well with buyers looking for a passive investment.
“The defensive healthcare asset class is desirable for investors and the fact that this property was recently developed to exacting requirements for the proven business owner who will remain as a tenant on a long-term lease, elevates the appeal of the offering,” she says.
“It’s strategically-located in a growth coastal location and while intrinsically suited to the current medical provider, the layout of the building itself is not over-specialised and would suit any number of medical or commercial uses in the future.” The underlying zoning of the property is industrial, hence the site layout which allows for well-considered traffic movements and turning capability, good parking ratios and drive-around access.
“This is a pivotal location close to State Highway 1- Kāpiti Expressway with convenient access north and south at the interchange.
“Investors and even long-term future owner-occupiers looking to secure property in one of the fasting-growing regions in New Zealand will recognise the value-equation on offer here.”
Presentation Way is a recently-developed cul-de-sac which extends from Milne Drive and runs adjacent to Kāpiti Road.
Neighbouring properties are a mix of newly-developed mainly office buildings to the west, the recently constructed Our Lady of Kāpiti School and church on the opposite side of the street, and a Z Energy service station to the rear.
The Pacific Plus medical facility and Pacific Radiology are nearby, further underpinning the area as desirable for medical-related use.