Kāpiti Coast medical asset with strong vital signs

A long-held healthcare investment property in Waikanae’s established medical precinct is now for sale, offering purchasers a substantial Town Centre holding with secure income and entrenched tenant covenant.

The Waikanae Health Centre at 22 Ngaio Road occupies more than 3,000sqm of freehold land and is leased to one of the Kāpiti Coast’s most established medical practices, providing a defensive and sought‑after asset in a high‑growth catchment.

The purpose‑built facility comprises approximately 960sqm of medical accommodation, developed over several stages to meet the evolving needs of the Waikanae community. The improvements include consulting rooms, specialist treatment areas, pharmacy space, administrative offices, staff amenities and on‑site carparking. Multiple entry points from Ngaio Road, Marae Lane and Iti Grove, together with neighbouring Council parking, make the site simple to navigate for patients and staff and support its role as a key healthcare hub for the community.

The property is leased to Waikanae Health Centre on a long-term net lease returning $280,000 per annum plus GST, with potential tenure through to 2042. Market rent reviews provide future rental growth opportunities, and the Town Centre zoning supports ongoing healthcare use along with broader commercial flexibility.

In addition to having an experienced team of general practitioners, nurse practitioners, registered nurses and allied health professionals, the centre hosts a number of visiting medical specialists, providing patients with access to specialist healthcare locally.

Tenders close Wednesday 9th September 2026 through Johnny Curtis and Simon Butler of Bayleys Wellington Commercial.

Waikanae continues to demonstrate strong and sustained residential expansion, supported by improved regional connectivity through Transmission Gully and the Kāpiti Expressway. The township’s demographic profile, including a significant proportion of older residents, has reinforced long‑term demand for accessible healthcare services, says Curtis.

“This has strengthened the position of medical facilities as essential infrastructure within the local community and elevated investor interest in healthcare assets that offer stability, resilience and consistent occupancy.

“Waikanae has one of the most stable and loyal catchments on the Kāpiti Coast. A medical facility of this size, positioned within the recognised town centre close to the railway station and surrounding residential neighbourhoods, and surrounded by complementary healthcare providers, retail, hospitality and service businesses, provides investors with confidence in both current income and future demand.”

Butler says globally, healthcare investments continue to attract strong interest from private and institutional investors due to their defensive characteristics and alignment with long-term population trends.

“Medical assets offer resilience through economic cycles, and facilities like this one in Waikanae that serve established communities with growing healthcare needs are particularly well regarded.

“The demographic profile of Waikanae means this facility plays a vital role in supporting the wellbeing of the community. That significance translates into sustained tenant commitment and strong underlying property fundamentals.

“The fact that the asset is underpinned by more than 3,000sqm of Town Centre-zoned land, a favourable and enabling designation, only serves to further enhance the value for proactive investors.”