Following the successful sale of the Bundamba Discount Pharmacy for $2.621 million, achieving a sharp 5.15% net yield, the total sales in Matchbox Property’s Bundamba development now amount to  $15,986,000.  

The Bundamba Pharmacy is located on a substantial 1,681sqm freehold site within Walker Corporation’s Citiswich Business Park.

It was sold with a new 10-year lease to 2034, including two additional five-year options extending to 2044 and a net income of $139,050 per annum with the tenant  paying 100% outgoings including land tax and management fees. 

This final sale in the highly successful Bundamba Retail Hub follows the transactions of KFC, Banjo’s Bakery Cafe, Subway, and Eco Wash Hub.

Collectively, these premium assets attracted over 500 enquiries, 30+ registered bidders, with yields starting from 4.09%. 

Burgess Rawson’s Andrew Havig and Tom Lawrence  successfully brokered the sales of all the assets in the Bundamba Retail Hub. 

Mr Havig said: “The Bundamba Pharmacy represented a unique opportunity in one of Australia’s most rapidly growing regions. The strong demand we witnessed for these assets highlights the continued  confidence in high-quality retail investments.” 

Mr Lawrence added: “With a solid 10-year lease and its close proximity to well-established brands like Costco and KFC, this asset was strategically positioned for sustained growth, making it an excellent  choice for long-term investment.” 

Burgess Rawson's next Portfolio Auction will be on the 20th of February with more blue-chip retail investments on offer. 

Related readings

What lies ahead for Australia’s commercial property market in 2025 - Burgess Rawson

Burgess Rawson agent transacts over $18million with 2 convenience retail sales 

Burgess Rawson’s final Portfolio Auction Event for 2024 reaps almost $90million