An opportunity to acquire a significant and “must consider” property near Auckland’s CBD has arisen, 56 Carrington Road, Point Chevalier is now on the market for sale by Deadline Date for offers.

The property features 2.12ha of freehold land with an ~8,812sqm industrial building. The property is zoned special purpose – healthcare and hospital zone and is currently tenanted by NZ Pharmacy Retailing (NZ) Limited trading as OneLink, a subsidiary of EBOS Group Limited. A well-established tenant providing a rental income of $1.36M p.a. + outgoings + GST. The lease back term of 2 years provides a strong holding income whilst allowing a developer or owner-occupier to plan their vision of the site moving into the future.

This well-located last mile logistics facility is within 7km of Auckland’s CBD. The location also borders the Carrington Residential Development and Unitec (Te Pūkenga) campus, bolstering the area’s attractiveness and population growth.

JLL NZ has been exclusively appointed to market 56 Carrington Road, Point Chevalier for sale by way of Deadline Date for offers closing 4pm, Wednesday, 7th of September 2022 (unless sold prior).

JLL Head of Logistics and Industrial Jolyon Thomson says that along with desirable cashflow, the property holds strong underlying land value that will appeal to those purchasers looking to take advantage of the healthcare and hospital zone.

The prospects for New Zealand’s healthcare and medical property sector are positive. Medically linked opportunities undoubtedly have clear underlying defensive investment characteristics which is increasingly chiming with investor market sentiment.

“Unlike more traditional sectors, healthcare property’s performance does not rely on the economy as a key demand driver; it’s an essential service and as such is a largely non-discretionary spend. This means it’s resilient to factors like economic sentiment, unemployment levels or interest rates. These attributes make healthcare property unique as an asset class,” says Thomson.

Recently this has been the case due to the ageing New Zealand population and growth in New Zealand’s general population leading to an increase in people seeking medicinal services. This has become even more exaggerated with the event of Covid-19.

According to Statistics New Zealand, the population over 75 will balloon to 832,810 by 2043. This is mirroring trends seen offshore in Europe and North America, including more established healthcare infrastructure, substantial GDP expenditure on health and social care, and decreased regulation of the sector.

JLL Logistics and Industrial Associate Director Richard McNaught says that the property’s central location is key to last mile logistics – a sector that has grown enormously in recent years on the back of Covid-19’s impact on retail operations.

“Central locations are critical to unlocking success in this arena as they allow providers to operate smaller, more easily serviceable catchment areas, especially in dense residential suburbs. Smaller catchment areas mean shorter distances between deliveries, less wasted drivetime with empty vehicles needing to refill, which all equates to higher delivery volumes and greater efficiency,” says McNaught.

56 Carrington Road is also remarkably located in an area that is well connected to the wider Auckland region by state highways and public infrastructure. The subject property is located 350 metres from the major interchange connecting the Northwestern and Southwestern motorways.

JLL Logistics and Industrial Senior Broker Chris Wakim added that the property provides an exceptional investment opportunity appealing to all buyer groups; investors, developers, land bankers, and owner-occupiers alike.

“The unique nature of this property and its location will have strong appeal to a multitude of buyers for a wide range of alternative asset classes,” says Wakim.

Interested parties should contact the sole agents JLL Logistics and Industrial, Chris Wakim, Richard McNaught and Jolyon Thomson via the contact details below.