Endoscopy Auckland (Property)

Endoscopy Auckland (Property)

24 Kipling Avenue, Epsom (settlement subject to OIO approval)

Endoscopy Auckland was acquired in a sale and leaseback transaction between operator Evolution and Vital in mid 2022.

The acquisition also included a development approval to construct a standalone dedicated dedicated endoscopy suite with 4 procedure rooms, 15 car parks, reception/waiting areas.

Resource consent has been obtained for the development and Vital have committed $21m to the development. The development is expected to be completed in late 2023.

Property Summary

As at 31 December 2023 Endoscopy Auckland (Property)
24 Kipling Avenue, Epsom (settlement subject to OIO approval)
  • $27.3m Market Value
  • 18.4yrs WALE
Asset class Hospital (Specialty)
Occupancy 100.0%
Major tenant Evolution Healthcare & Healthcare Holdings (owner of Mercy Ascot)
Market capitalisation rate 5.8%