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Award-winning medical complex for sale sends investors’ pulses racing

The property for sale at 5 Rakau Road is home to the only medical facility in the Whanganui suburb of Castlecliff. The complex was built between October 2017 and February 2018 for Castlecliff Health, recently renamed as Living Waters Medical, which is now seeking to sell the premises under a long-term leaseback arrangement as it looks to expand its business.

Living Waters Medical Solutions Limited will pay net annual rent of $140,000 plus outgoings and GST on a lease extending to 2029, with four further four-year rights of renewal. The lease incorporates annual CPI rental increases capped at two percent and market rent reviews every four years.

The new facility, established with a mission to tackle the healthcare requirements of the high-needs Castlecliff community, won the national MediSpace Good Space Award at the prestigious NZ Primary Health Care Awards 2020. It is the only private clinic in Whanganui offering services under the Government’s Very Low Cost Access scheme.

The freehold land and buildings at 5 Rakau Road, Castlecliff, Whanganui, are now being marketed for sale through Bayleys Whanganui. Sale will be by way of an auction on Friday 4 June, unless the property is sold earlier.

Salesperson Russell Duggan said the single-storey medical centre of some 500 square metres sat on an approximately 2,367-square metre site with 20 car parks for customers and staff.

“Completed in February 2018, the building is a high-quality, low-maintenance Totalspan steel-frame construction. It was built and fitted out to a high standard to accommodate a variety of services, with room for expansion.

“Living Waters Medical has already expanded into aged care and is looking at other opportunities in the community.”

Mr Duggan said the Rakau Road facility had been lauded by industry award judges for its original and imaginative design, which helped improve the patient experience and care model and supported practitioners working in the space.

“The facility was designed from the outset as a place of health and well-being. The sense of space and lighting are optimized throughout via natural light through skylights plus LED lighting, based on evidence these support positive health outcomes. High ceilings and spacious corridors add to the sense of well-being and the wall décor – including multilingual greetings, maps and inspirational quotes – has attracted feedback from patients who find it educational and uplifting,” said Mr Duggan.

Disability access has been carefully planned throughout the complex, as have facilities for children in the waiting areas, he said.

“The facility contains eight spacious consultation rooms, some with interconnecting doors to allow team members to engage in clinical discussions. It also incorporates a dedicated procedure/minor surgical room, a clinical storage room with a vaccine refrigerator, a sluice room and laundry, a large office for the practice manager plus a large meeting room. A spacious staff area incorporates a kitchenette with a refrigerator, oven and microwave.

“All consultation, procedure and meeting rooms have their own heat pump. An outdoor area has been created for pets, which team members are free to bring to work. A separate enclosure allows staff to step out of the clinic and unwind in the open air,” Mr Duggan said.

The Rakau Road property has an A+ Grade seismic rating and is zoned Industrial (7A) under Whanganui District Council’s district plan.

Mr Duggan said that with a lack of available commercial and industrial property in Whanganui’s main industrial precinct, Rakau Road was now the “place to be” for new developments, relocating businesses and to service the expansion needs of the industrial sector.

“With close proximity to key logistics and transportation links, Rakau Road has attracted a good mix of existing occupiers and operations, including Wight Aluminium, Parkwood Doors and C P Wool, as well as new operations looking to begin construction in the next six to 24 months.

“The wider Castlecliff community is also on the rise, having attracted significant public and private sector investment under the council’s master-planned Castlecliff Rejuvenation Project.

“With a nationally-awarded essential-service tenant in growth mode at this key location on a long-term lease, the property at 5 Rakau Road is likely to grab the attention of investors across Whanganui and well beyond,” Mr Duggan said.

Click here for more information on the listing.

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