Watsonia Pharmacy Investment Sold
A tenanted retail investment in the growing suburb of Watsonia in Melbourne’s north-east has been sold by Ray White Commercial for $635,000.
The 108 sqm pharmacy asset at 9/78-92 Nepean Street, Watsonia, was sold to a local investor by Brett Diston of Ray White Commercial Victoria on behalf of a private owner for a yield of 5.4 per cent.
Brett Diston said there was keen interest in the investment opportunity, which is returning net rental income of approximately $34,466 per annum on a long term lease.
“This sale highlights the strong demand for quality investment opportunities, especially pharmacies,” he said.
“The offering was located in an established commercial precinct, and offers the security of a brand new lease in place with annual increases.”
Brett Diston said the pharmacy asset is part of the Diamond Village Shopping Centre and offers plenty of on-site parking.
In the dynamic and ever-evolving world of real estate investment, one key decision can make all the difference in the success of an investor’s portfolio: the choice of their management team.
A retail development site in the heart of Perth’s CBD has sold for $48 million. The 1,705sqm site at 96 and 110 William Street, and 255 Murray Street Mall was marketed by RWC WA agent Brett Wilkins.