Chemist Warehouse execs dig deep for Oakleigh store
Executives for Chemist Warehouse, which was listed on the stock exchange February, have picked up another asset occupied by the business – this time at Oakleigh.
At auction yesterday, 30-36 Eaton Mall collected $12.1 million – a low 2.58 per cent yield.
Three other suitors contested for the property which included a c1913 ex-bank and neighbouring restaurant, all up an 867 square metre site with airspace development upside.
Cushman & Wakefield’s Raphael Favas, George Davies, Daniel Wolman and Leon Ma were the agents.
Their deal values the land at $13,956 per sqm.
Chemist Warehouse executives, represented by National Retail Group’s Michael Spektor, have in recent years been buying properties occupied by the business – or which could be – in Melbourne’s suburbs including Brighton, Ivanhoe, Kew and Richmond (story continues below).
Last July they snared the prominent NAB on the corner of Toorak Road and Chapel Street, South Yarra, speculated to be the priciest corner to rent retail outside of the CBD and fringe.
In 2023 meanwhile, a consortium of business owners snapped up a Glenferrie Rd, Hawthorn, chemist occupied by a rival.
Also that year a store in New South Wales’ Grafton was purchased for $4.1m.
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