Rural Medical Premises Prescribed For Investors

The land and purpose-built building housing one of the biggest and busiest full-service medical and healthcare centres in rural Waikato has been placed on the market for sale.

The 405-square metre site located in Ngaruawahia’s central business district accommodates Ngaruawahia Medical Centre as the lead tenant, along with a pathology laboratory and medicines dispensary pharmacy – making it the town’s pre-eminent one stop healthcare destination.

Ngaruawahia Medical Centre has a patient catchment area encompassing Horotiu, Hamilton North, and Te Kowhai to the south, Gordonton to the east, Huntly to the north, and the settlements of Rotowaro and Te Akau to the west. The practice operates five days a week, and is staffed by four doctors in the general practice field of healthcare – including the ability to perform minor surgery and undertake chronic disease management.

Sitting one block back off Ngaruawahia’s main retail strip along Jesmond Road, the 1,189-square metre rectangular-shaped address at 11 Galileo Street is maintained to a high standard by the lead tenant. The address has on-site tarmac sealed parking for a dozen staff and patient vehicles, with substantial road parking immediately outside the address along Galileo Street.

Ngaruawahia Medical Centre’s portion of the 405-square metre Galileo Street premises encompasses a large open-plan patient reception area and waiting room, an adjoining administration and records storage space, multiple private consulting suites, patient bathroom amenities, medical supplies dispensing room, along with a staff kitchen and separate bathroom facilities.

The rear of the premises also contains a covered ambulance bay for discreetly transporting patients to Hamilton Hospital if additional medical treatment is required.

Also within the building but operating independently as a stand-alone business, Ngaruawahia Pathlab has a small reception area and patient services suite, while Roberts Ngaruawahia Pharmacy occupies the front portion of the building in space which features a standard open-plan retail format showcasing both aisle and wall-mounted shelving adjacent to a prescription preparation and customer service area. Large floor to ceiling windows overlooking the car park deliver considerable light to the chemist’s interior.

Head leaseholder Ngaruawahia Medical Centre is on a current new three-year lease at the Galileo Street site, underpinned by a further three-year right of renewal – generating annual rental of $120,000 plus GST and operating expenses. The practice sublets space to both Ngaruawahia Pathlab and Roberts Ngaruawahia Pharmacy.

The freehold land and modern building located at 11 Galileo Street in Ngaruawahia are now being marketed for sale at auction on July 30 through Bayleys Waikato. Salesperson Josh Smith said the purpose-built single-level premises had an A-grade seismic rating – with the flat Galileo Street site zoned for commercial use under the Waikato District Council Plan.

“The triple tenancy configuration of this location sees the three complimentary healthcare service providers delivering seamless, convenient, and highly efficient medical analysis and treatment outcomes for patients – which is one of the main reasons the clinic has such a high client list from a substantial catchment area,” said Smith.

“Concurrently from a property management perspective, the master-lease structure in place within the premises ensures any owner only has to deal with a single point of contact across the three tenancies.”

Smith said there were few other commercial buildings of this structural type and lay-out in Ngaruawahia – whose compact central business district predominantly consisted of fast food and hospitality outlets, small retail operations, council occupied buildings, churches, and multiple boutique-sized offices.

“As Hamilton’s northern metropolitan residential boundary has steadily expanded north in support of a growing population over the past two decades, this has had the cumulative effect of making Ngaruawahia more of a peripheral destination for the city’s residents, rather than its heritage as a stand-alone rural services town. Consequently from a convenience perspective, more and more Hamiltonians are accessing services in the town – such as those offered at the Galileo Street medical hub,” Smith said.