Napier medical complex for sale

A modern, purpose-built complex housing a leading Napier general medical practice on a long-term lease has been put on the market.

The prominent corner property for sale sits within a well-established commercial and healthcare precinct less than three kilometres south of the city centre, in the suburb of Marewa.

Anchored by a new 15-year lease to Central Medical Napier, and guaranteed by national operator Omni Health Limited, the site on Douglas McLean Avenue is being marketed to commercial property buyers as an investment with long-term income security.

The lease generates a net rental return of $242,200 plus outgoings and GST per annum, with rental growth built in via annual CPI rent reviews and market reviews every five years.

Along with two further 10-year rights of renewal, the tenancy structure provides exceptional durability and confidence for investors seeking a high-calibre investment with stable, essential-service-based returns, according to Bayleys salesperson Matt Webb.

A refurbished two-bedroom apartment is also included within the commercial lease, providing additional utility for staff accommodation or ancillary use.

“Purpose-built improvements, a modern medical fit out, and a seismic rating of 70 percent of new building standard, underpin strong tenant retention and future adaptability,” Webb said.

“With healthcare assets continuing to show considerable resilience and sustained demand, this property stands out as a premium, easily managed investment opportunity.”

The freehold land and buildings at 29a and 29b Douglas McLean Avenue, Napier, are being offered for sale through Bayleys Hawke’s Bay, by way of a tender closing on Thursday 5 March, unless it is sold prior.

The approximately 570-square-metre complex housing the medical centre and apartment is underpinned by some 480 square metres of land in four freehold titles across the two addresses.

“This well-maintained facility was designed and built to support long-term healthcare operations – with a contemporary fit out, efficient layout and strong seismic performance supporting its ongoing suitability for clinical use,” Webb said.

The Central Medical practice serves the community with a wide range of services ranging from regular check-ups and immunisations to family planning and pregnancy care, specialist services, and minor surgery.

Webb said the high-profile corner frontage to Douglas McLean Avenue and Bedford Road offered strong visibility and exposure to steady traffic flows, while free council car parking right outside heightened convenience for patients and visitors.

The land is zoned Suburban Commercial under Napier’s district plan in an area specifically designated to support neighbourhood-scale commercial activity and essential community services.

“This provides flexibility for healthcare and service tenants while ensuring long-term land-use stability,” said Webb.

Marewa is a centrally located suburb well served by public transport and access to key arterial routes such as Kennedy Road and Marine Parade.

Webb said the address for sale benefited from robust local demand in a stable catchment.

“This is enhanced by the presence in the area of complementary healthcare and service providers, plus other essential amenities including supermarkets, cafes and Napier’s CBD,” he said.