Upstate Commercial as exclusive agents is delighted to present this unique investment opportunity in the heart of Mona Vale – the renowned chemist shop 'Plunketts Pharmacy' has been trading for 45 years at 9/17 Bungan Street. Established in 1980, this 70 sqm property is a tenanted investment gem, strategically positioned for optimal exposure on one of Mona Vale's prime streets.
This tenanted investment offers a compelling 5.12% Net return, increasing to 5.25% Net return from 1 July 2024, surpassing traditional bank returns on cash deposits. With a well-established presence since 1980, the chemist shop enjoys a prominent position on Bungan Street, making it an ideal addition to any savvy investor's portfolio.
The tenant has just signed a new 5 + 5 year lease term commencing 1 July 2024 with a rent increase of 2%. The entrenched nature of chemist shops, coupled with the high relocation costs, makes the option period enticing for the existing tenants.
* Area 70 sqm
* Air conditioning
* Internal kitchenette
* LED lighting
* Shared male and female amenities
* New 5 + 5 year lease, commencing 1 July 2024
* Easy access to major arterial roads
* Walking distance to public transport
* Centrally located within proximity to all major services in Mona Vale
Mona Vale stands as a flourishing suburb, and this chemist shop enjoys a strategic position amidst the thriving community. The locality attracts a diverse demographic, including families and retirees, creating a steady stream of potential customers for the chemist shop. The psychographics align with health-conscious consumers seeking quality pharmaceutical services.
Situated in close proximity to Woolworths, the chemist shop capitalises on the benefits of constant foot traffic, enhancing its visibility and potential customer base.
This exclusive offering represents a prime investment opportunity. With a proven track record, stable tenant, and strategic location, this property is poised to deliver long-term returns for discerning investors. Don't miss out on the chance to secure a piece of Mona Vale's thriving commercial landscape.
Call Paul Cunningham 0413 161 661 or Saxon Stonehouse 0408 033 330 today for your inspection.
***All areas/measurements are approximations. It is up to lessee/purchasers to conduct their own investigations regarding any approvals required by governing authorities***