![]() Asset Class: | Medical |
![]() Price: | $ 3200000 |
![]() Net Yield: | 7.16 % |
![]() Net Yield - including solar strategy: | % |
![]() Property Market Status: | Off Market |
A prime medical investment opportunity located on the corner of Munroe and Vautier Streets in Napier’s fringe commercial business district. This dual title property comprises a two-level medical centre and an adjacent pharmacy (Unichem), offering strong tenant history, quality medical fitout, and a strategic location near Napier’s CBD.<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;">Well-Appointed Medical Facility</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;">Fully fitted medical centre with intensive internal fitout</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;">All consult rooms feature hand basins and wall-mounted heat pumps</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;">Lift access to the first floor</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;">Automatic door entry</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;">Ducted air conditioning to the upper level</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;">Durable vinyl flooring in service areas, fitted coverings in consult rooms and upstairs</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 for medical use and includes an integrated pharmacy space</span></p></li></ul><br>Anchored by long-term medical occupiers; The Doctors medical centre and Unichem pharmacy have both operated from this site for over 30 years. This was the very first 'The Doctors' in NZ. Upstairs houses Physio Direct under a sublease from The Doctors.<br><br>"It's been 35 years of delivering the best health care and advice to our communities around New Zealand since 1989 when The Doctors was founded in Napier by Simon Bednarek, Tony Edwards and John Reekie. The very first medical centre started on the site at 30 Munroe St and since then has had several renovations. The Doctors became a franchise and opened practices in Hastings, Palmerston North and nationwide. Green Cross Health became a shareholder in 2014.<br><br>Although this location is marked as a flood zone (100mm - 299mm in a 1/50 year event) the owners have no issue with flooding since 1989 including during Cyclone Gabrielle in February 2023 which saw widespread flooding in the region.<br><br><br>This property presents <span style="color:rgb(51, 51, 51);">an excellent corner exposure with signage opportunities,</span> onsite car parking and an immediate income with long established tenancies. All the hard work has been done, you just need to set and forget!
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Positioned on a high-profile corner site in Napier's fringe commercial district, with excellent exposure to both Munroe Street and Vautier Street – key arterial routes carrying moderate to high volumes of traffic. <br><br>Close proximity to professional services including legal, medical, accountancy and insurance firms. <br><br>Pak’n Save supermarket is located directly across the road.
Additional Location Information File<span style="color:rgb(51, 51, 51);"><b><i>The Doctors</i></b></span><br><br><span style="color:rgb(51, 51, 51);"><i>The Doctors Medical Centres</i></span><span style="color:rgb(51, 51, 51);"> is New Zealand’s largest network of doctors and primary healthcare services, making it easy for you to access personalised care, when and where you need it most. Choose from one of our 66+ medical centres near you.</span><br><span style="color:rgb(51, 51, 51);">Trusted by over 400,000 kiwis, our healthcare team of 1,400+ includes:</span><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;">GPs</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;">Nurse Practitioners</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;">Health Improvement Practitioners</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;">Health Coaches</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;">Extended Care Paramedics</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;">Nurses</span></p></li></ul><br><span style="color:rgb(51, 51, 51);">A diversified clinical team in our medical centres helps to reduce appointment wait times, so your health concerns are addressed in a timely way. Our practices hold appointments each day for our enrolled patients who have critical presentations.</span><br><br><span style="color:rgb(51, 51, 51);"><b><i>Unichem</i></b></span><br><br><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">At Unichem NZ, we are your local health professional. With a network of more than 250 pharmacies throughout New Zealand, you’ll always find professional care + advice for all your health, wellness and beauty needs. Our experienced pharmacists are here to provide you with the best advice and support, and we offer a wide range of products and services to help you stay healthy and feel your best. Whether you need advice on managing a chronic condition or are looking for the latest beauty products, we are here to help. Contact us today to find out how we can support your health and wellness goals.</span><br><br><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">In addition to stocking a wide range of quality natural health products, over the counter medications and beauty essentials, your local Unichem Pharmacist has the expertise to offer a range of health services. Come in and talk to us about blood pressure checks, a number of vaccinations, bowel health screening, medicine management, warfarin monitoring and more.</span><br><br><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Your Unichem Pharmacist is always available to discuss health conditions and medicines, provide advice on products and help you get the most from your medicines. </span>
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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;">National brand medical centre on a freshly renewed Four (4) year leases</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;">663.2 sqm NLA across The Doctors and Pharmacy</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 Local Doctors with a seperate lease agreement to Radius Pharmacy (Unichem) and a sublese to a physio upstairs</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;">Fantastic exposure with generous car parking available nearby. Onsite carparking for 12 cars</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;">Currently returning $229,331 Net + GST and OPEX</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);font-style:normal;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">The Doctors Napier $408.39 / sqm</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);font-style:normal;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">The Pharmacy $651.00 / sqm</span></p></li><li style="list-style-image:none;color:rgb(51, 51, 51);font-style:normal;"><p style="display:inline;"><span style="color:rgb(51, 51, 51);font-weight:normal;font-style:normal;">Wimsett (Physio) Sublease $185.84 / sqm</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;">Seismic Strength - Two-storey building: 75% of NBS, Single-level pharmacy: 90% of NBS</span></p></li></ul>