Jones Real Estate has achieved a record-breaking result with the sale of 8 Pratt Street, Moonee Ponds, setting a new benchmark for strata retail investments after successfully selling the high-profile AMCAL Pharmacy investment to an Asian private investor sourced through the agency’s Asian Service Desk.
The property sold on a sharp 5.2% yield while achieving a circa $17,000 per square metre building rate, representing one of the highest building rate and yield outcomes recorded nationally for a strata-titled property this year. The highly competitive campaign generated more than 300 enquiries from local, interstate and offshore investors.
The premium result reinforces continued demand for high-quality healthcare investments, with the campaign attracting strong interest from private investors, syndicates and SMSF buyers seeking secure, long-term income backed by essential service tenants.
Vincent Lam 林维钧, Manager – Asian Investment Services Desk, at Jones Real Estate, said the result demonstrated that premium investment assets continued to outperform despite broader market uncertainty.
“Achieving both a record building rate and a sharp yield in the current market highlights the depth of demand for quality healthcare investments with strong tenant covenants.
“The campaign generated more than 300 enquiries, with competition from both domestic and offshore buyers ultimately resulting in another outstanding outcome for our client,” Mr Lam said.
Paul Jones, Managing Director of Jones Real Estate added, “we continue to see well-located medical and healthcare investments outperform the broader market, particularly those underpinned by national operators and long-term leases. Investors remain highly motivated when quality assets are presented through a credible campaign.”
Located within the heart of the Moonee Ponds Activity Centre, the 66sqm corner investment is securely leased to AMCAL Pharmacy, owned by ASX-listed Chemist Warehouse / Sigma Healthcare, Australia’s largest retail pharmacy group.
The property benefits from a six-year lease commencing in December 2023 with a further six-year option, fixed annual rental increases of 4%, and a net income stream with the tenant responsible for 100% of usual outgoings.
Over the past two months, Jones Real Estate has completed 18 commercial investment transactions, excluding vacant possession sales and leasing activity. Just 11% of purchasers were local investors, with the remaining 89% comprising interstate and international buyers, underscoring the agency’s extensive domestic and offshore buyer network.
The successful sale further reinforces Jones Real Estate’s ability to deliver premium outcomes across the healthcare, retail and medical investment sectors.
Mimi Hoang, Manager at Jones Real Estate, said qualified buyers remained active across a range of investment asset classes.
“We remain in regular contact with qualified purchasers actively seeking medical, retail, industrial and childcare investments throughout Victoria and interstate.
“Owners considering a sale, whether on-market, off-market or through a confidential targeted campaign, should feel confident there is still significant capital looking for quality opportunities,” she said.
The campaign was managed by Paul Jones, Vincent Lam 林维钧, Mimi Hoang, and Anthony Petroulis of Jones Real Estate. For more information, please visit: https://www.jonesrealestate.com.au/.
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