![]() Asset Class: | Medical |
![]() Price: | $ 14390900 |
![]() Net Yield: | 6.00 % |
![]() Net Yield - including solar strategy: | % |
![]() Property Market Status: | On Market |
Rethink are proud to present the Hillcrest Medical Centre. This is a once in a generation trophy purchasing opportunity of an entire medical centre, anchored on a large freehold suburban corner site surrounded by one of the largest and most established residential catchments in Hamilton, stretching from Hamilton East towards the University and south into Tamahere taking in Hillcrest, Silverdale and Newstead.<br> <br>An excellent mix of health professionals, anchored by Primary Health Care Ltd, on a renewed long-term lease, while other tenants include a pharmacy, dental, physio and Pathlab.<br><br>The building comprises purpose-built medical premises originally constructed in approx mid 2000s and completely refurbished, and a new building added in 2016.<br>The general construction comprises reinforced concrete floor slabs, reinforced concrete foundations, timber/steel frame, brick/concrete/Colorsteel exterior, fully lined interior, Colorsteel roof and aliminium joinery units etc.<br><br>The existing premises has been reconfigured/refurbished which adjoins the new building. The new building has stairwell/lift access from the entrance lobby to the upper level. There are new ablution areas throughout the complex.
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Situated on a prominent corner site, the property boasts a high profile, within a large residential catchment.<br><br>The location provides exceptional access to the cities main roading infrastructure, including connections to the Waikato Expressway network.<br><br>Hillcrest itself has a diverse population that includes families, university students, and professionals. The suburb is home to a mix of age groups, including young families, couples, and retirees.<br><br>Generally, Hillcrest offers relatively affordable housing options compared to some other suburbs in Hamilton. Housing in the surrounding catchments are predominantly standalone dwellings however in recent years an uplift in the development of infill housing has become apparent.<br><br><ul style="list-style-type:disc;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">6.3km to Hamilton City Centre</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">9km to Te Rapa</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">1.2km to Waikato University</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">3.6km to Ruakura (inland part)</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">10km to Hamilton Airport</span></p></li></ul>
Additional Location Information FileMedical Centre - Hillcrest Medical Centre<br>Hillcrest and Tamahere Medical Centre is a large family focused general practice. We share our Hillcrest building with a pharmacy, Pathlab, dentist, physiotherapy and medical specialists. Appointments can be made at Tamahere or Hillcrest locations.<br><br>Pharmacy - Hillcrest Pharmacy<br>Based in Hamilton, Hillcrest Pharmacy’s aim is to put your health needs first. Hillcrest Pharmacy offers a personal touch, and we have pharmacists on site to provide you with high quality, professional advice. Our delivery service ensures that your prescription requirements are completely met! But we are so much more than just a pharmacy. We also offer an extensive range of products including designer make-up, beauty products and gifts; not to mention our on-site day spa and cafe! <br><br>Pathology - Pathlab<br>Pathlab is a New Zealand owned and operated pathology service provider and has modelled our business on meeting the needs of our customers. We currently provide pathology services 24 hours a day, 7 days a week, servicing over 4,500 patients per day across oc 45 centres and drop off locations.<br><br>Dentist - Hillcrest Dental<br>At Hillcrest & Tamahere Dental Centre, we pride ourselves on providing high-quality dental care. With two clinics - one in Hillcrest and one in Tamahere - our Hamilton dentists have built a reputation based on patient-centered care over the past 50 years. We enjoy looking after patients from all different walks of life.<br><br>Podiatrist - Flex Podiatry<br>Flex Podiatry is dedicated to provide best treatment. Whitney graduated Podiatry in 2009. In 2019 Dwain & Whitney King started a little podiatry clinic near their house to provide high quality services to the local community. We are a small family business that operates with our values at the forefront of everything we do.<br><br>Physiotherapist - Hillcrest Physio <br>At Hillcrest Physiotherapy we offer a wide range of services to help you recover from injuries and rehabilitate any aches, pains and other problems you may have. We strive hard to give you a top service and get you back to your best as soon as possible.<br><br><br><br><br><br>
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<ul style="list-style-type:disc;list-style-position:inside;padding-inline-start:20px;"><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Returning circa $863,454 Net + GST & OPEX</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">4,573 sqm freehold suburban corner site split over five titles</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Massive (and growing) residential catchment</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Onsite parking for ~90 vehicles</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Combination of CPI, fixed and market rent review structure</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Purpose Built Modern Building - 2016 saw the latest extension and refurbishment of the existing building to a modern standard. 100% occupied by complimentary businesses</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Anchored by Primary Health Care LTD (49% of total rent) - A National Tenant who just renewed for 11 years from 2025</span></p></li></ul>