Bayleys in the North Commercial and Colliers New Zealand Limited via Joint Sole Agency are pleased to offer the 93 Fourth Avenue, Woodhill, Whangarei for sale by Deadline Private Treaty closing at 4pm, Thursday 22 May 2025. (unless sold prior)
- Leased by North Health Limited on a 20-year term with renewal options extending to 2059
- Annual rent of $286,209.55 net p.a. + GST, with structured rental increases ensuring regular income growth
- A well-established rest home and hospital care facility with resource consent for expansion
The Hummingbird Hospital is a purpose-built facility providing hospital level palliative and long-term care for the elderly. It is a Fee Simple property on 2,630sqm land, zoned General Residential. It has resource consent to increase occupancy to 48 patients and staff to 40.
Tenanted by North Health Limited on a 20-year lease from 1 November 2009, returning $286,209.55 net p.a. + GST (from 1 May 2022). Rent is reviewed regularly with fixed increases, market adjustments, and ratchet clauses. With a final expiry in 2059, this asset provides an investor with the potential for long-term passive income in a sector supported by demographic trends and ongoing demand.
Astute investors will recognize the opportunity presented by a well-established tenant with a significant commitment to the property. Those seeking a better than average return should get in touch.
Contact the Joint Sole Agents below for more information:
Roger Seavill
021 950 187
Nigel Ingham
021 562 919
