Chemist Warehouse Prahran, 370-372 Chapel Street, South Yarra

ICONIC CHAPEL STREET FREEHOLD – SECURELY LEASED TO ‘CHEMIST WAREHOUSE’ SUBSIDIARY OF ASX LISTED HEALTH CARE GIANT ‘SIGMA HEALTHCARE LTD’

Jones Real Estate is pleased to present Chemist Warehouse Prahran, 370-372 Chapel Street, South Yarra, to the market, For Sale via International Expressions of Interest closing Thursday 11th December 2025 at 12:30pm (AEDT).

Occupying a commanding position along one of Melbourne’s most iconic retail and lifestyle strips, this prime South Yarra freehold presents an exceptional opportunity to acquire a blue-chip investment anchored by a nationally recognised tenant.

Key highlights include:

– Chemist Warehouse, Australia’s largest discount pharmacy retailer, is a subsidiary of ASX listed ‘Sigma Healthcare Ltd’ following their 2025 merger, the $35 billion group combines retail scale, multi-brand strength, and national distribution reach.

– Returning a passing rental of $266,173.73 per annum net + GST & Outgoings on a nine (9) year lease with options until 2034 and fixed 3% annual rental increases.

– Situated on a 376sqm* landholding with an impressive 18m* combined frontage to both Chapel Street and Bray Street, offering exceptional exposure and excellent rear access.

– A 520sqm* gross building area, comprising high-performing retail accommodation fronting Chapel Street and convenient roller door access via Bray Street for deliveries.

– Located within Chapel Street’s premier lifestyle and entertainment precinct, surrounded by major national retailers including Coles Local, BWS, Mecca, Country Road, and Kookai, as well as popular cafés, restaurants, and boutique stores.

– A rare opportunity to secure a trophy investment offering secure income, an enduring national tenant covenant, and future redevelopment potential in one of Melbourne’s most prestigious and tightly held retail destinations.

– Zoned Activity Centre Zone – Schedule 1 (ACZ1), allowing for a wide range of commercial, retail, or mixed-use outcomes (STCA).

*Approx.

For further information regarding the opportunity, please contact the exclusive selling agents at Jones Real Estate.

Disclaimer: Sizes and dimensions described are approximate. Parties should not rely on the information contained within this summary; we recommend seeking professional advice before proceeding.