Chemist Warehouse executives buy another investment
National Retail Group – an affiliated families office established and backed by Chemist Warehouse executives – has bought another commercial investment.
The warehouse converted showroom at 75-85 York Street, South Melbourne, cost $4 million following and off-market deal.
The property is securely leased with audio visual equipment retailer Factory Sound an occupier 30 years.
Anthony Wilson’s Terraplex was the seller.
Ray White Commercial’s Ted Dwyer was the agent.
Island site
On 466 square metres zoned Commercial 2, 75-85 York St is also exposed to Yarra St, Yarra Lane and a right of way.
Terraplex offered it permit-ready for a six level, 1898 sqm mixed use office and retail complex with rooftop terrace.
NRG director Michael Spektor said it had no plans to develop.
The deal comes three weeks since we reported the business – which also has a leasing arm – paid Sydney Roosters chairman Nick Politis $19.4m for a Brisbane CBD investment.
A month ago meanwhile, it outlaid $10.85m for a multi-level commercial and retail building in Adelaide’s Rundle Mall.
Chemist Warehouse reverse merged with Sigma Healthcare in February – a $34 billion deal.
In August, the retailer’s initial backers including the Gance and Verrocchi families, sold shares worth c$729m.
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