Investors vie for bite at Lumino dentist clinic

The Orewa clinic of one of New Zealand’s largest and best-known dental providers is set to go under the hammer.

The approximately 190-square-metre street-front premises on Cammish Lane are fully leased to Lumino Dental, a brand with more than 100 practices nationwide. The Town Centre-zoned property sits in the heart of the Auckland coastal town’s main commercial precinct, where it rubs shoulders with a lively mix of complementary retail, medical and service businesses.

Lumino Smile Studio Orewa is well-established at the site, offering a comprehensive range of dental services including ACC claims and WINZ quotes. The modern premises feature a fit-for-purpose design supporting the practice’s operational requirements, along with shared on-site customer parking.

The property generates an annual net rent of $75,000 plus outgoings and GST, on a current lease that runs to 2028 with a further three-year right of renewal.

Unit B, 1-19 Cammish Lane, Orewa, is now being marketed for sale through Graeme Perigo and Marie Hansen of Bayleys Silverdale. The property will go under the hammer at an auction on Wednesday 9 September, unless it is sold prior.

Perigo says Lumino has served the growing Hibiscus Coast community from the premises for years.

“The strength of the national-brand tenant, established commercial location, and dependable rental income add up to an investment offering with broad market appeal,” Perigo says.

The investment enjoys further support from the property’s position in the Business – Town Centre zone under Auckland’s unitary plan. This encourages commercial activity, investment and intensification, while supporting a diverse mix of businesses and services.

“This zoning enables an array of commercial, retail, office, service, community, and residential activities, underpinning the role of town centres as commercial and community focal points.

“This supports broad ongoing tenant demand at the Cammish Lane site while also providing confidence in the long-term relevance of the surrounding town centre,” says Perigo.

Hansen says the prime Hibiscus Coast location in one of Auckland’s best-known coastal suburbs further underpins the property’s investor appeal.

“The property, and established national tenant, reap the benefits of a mature commercial environment combined with a surrounding residential catchment which is seeing sustained expansion. Orewa’s coastal lifestyle, amenities, and connectivity to Auckland give this area a pulling power that continues to attract new residents.

“Significant residential development throughout Orewa, Millwater, Milldale and the wider Hibiscus Coast has supported ongoing population growth and this, in turn, is boosting demand for a wide range of local businesses and services.

“Convenient connections via the Northern Motorway ensure the area is also easily accessible from Auckland’s North Shore and city centre,” Hansen says.