This article is from the Australian Property Journal archive
A PRIVATE investor has bought a retail investment property leased to a pharmacy at Watsonia in Melbourne’s north-east for $635,000 on a yield of 5.4%.
The 108 sqm property at 9/78-92 Nepean St Watsonia was sold by Ray White Commercial’s Brett Diston, who said the asset is part of the Diamond Village Shopping Centre and offers plenty of on-site parking.
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.
Australian Property Journal
