An essential services investment with a well-established tenant covenant, assured rental growth, and a strategic location in Auckland’s West is being presented to the market at a time when commercial investors are increasingly seeking stability and long-term income certainty, Bayleys brokers say.

Bayleys investment sales director Tony Chaudhary and colleague Beterly Pan are marketing the medical tenanted Unit A at 4343-4349 Great North Road for sale by deadline, closing at 1:00 pm on Tuesday, 20th May 2025 (unless sold prior).

Chaudhary says the property presents a rare opportunity to acquire a premium passive asset with long-term income from one of the country’s most recognised private healthcare providers.

The 355sqm (more or less) unit is fully leased to Local Doctors – part of Tamaki Health – New Zealand’s largest privately owned medical group with nearly 50 clinics nationwide.

The tenancy generates an annual net income of $187,395 plus GST, with 100 percent of the outgoings of $30,373.11pa + GST paid by the tenant.

“Local Doctors have occupied the premises since 2017, with a current lease secured through 2026 and renewal options extending to 2038. The long-term lease structure offers investors a stable income stream supported by biennial rent increases of CPI plus 1.5 percent. Market reviews will apply at each renewal, adding further upside potential.

“It’s a textbook example of a ‘set-and-forget’ investment. The strength of the tenant covenant, the lease structure, and the asset’s essential services nature make it an ideal addition to any commercial property portfolio.

“The tenant is a trusted and entrenched healthcare provider. Their continued growth and significant footprint, including nearly 40 clinics in Auckland alone, speaks volumes about their operational resilience and value to the communities they serve.”

The property occupies a high-profile position within Glendene Shopping Village – an established commercial hub home to nationally recognised and complementary occupiers, including Labtests New Zealand and Unichem Pharmacy.

Bayleys Northwest senior broker Beterly Pan says the unit’s position within the Glendene Shopping Village affords ample common carparking, excellent exposure to Great North Road – a major arterial route – and proximity to the Te Atatū and Waterview motorway interchanges.

Zoned Business – Local Centre, categorisation permits a wide range of commercial and community activities. The zoning encourages retail, office, and medical use, supporting future redevelopment and flexibility that aligns with evolving suburban growth.

“While favourable zoning adds depth to the offering, the current improvements provide a turnkey investment with minimal capital expenditure required, Pan says.

The building has an A-Grade seismic assessment of 141 percent of New Building Standard (NBS), providing confidence in the premises' structural integrity and ongoing insurability.

“As Glendene’s sole provider of medical services, the site holds a unique monopoly in serving the local residential catchment. That exclusivity and a trusted national operator and long-term lease positions this asset favourably in today’s market.”

Pan adds that amid increased investor selectivity and a preference for defensive asset classes such as healthcare, this offering stands out for its resilience, location, and income security.

“Positioned for growth, backed by a proven tenant and aligned with future healthcare demand, this is a smart investment in the heart of booming West Auckland,” she says.