raywhitetugunelanora.com.au
The Opportunity...
457 GOLDEN FOUR DRIVE, TUGUN
James Mulholland
Executive Summary
Tenancy Profile
CHEMPRO CHEMIST (ANCHOR TENANT - GROUND FLOOR)
Chempro Chemists is one of the largest and fastest-growing pharmacy banner groups in Australia Established in 2003, the group has rapidly expanded its footprint across South-East Queensland and Northern New South Wales.
Network Scale: As of mid-2025, the group has grown to a network of 167 stores.
Market Position: Chempro leverages its significant scale to secure optimum supplier pricing, allowing them to remain highly competitive against major national franchises.
Services: The Tugun location operates as a community-focused pharmacy offering professional health advice, instore vaccinations, personal health plans, and dose administration aids.
Operational History at Site: Chempro has serviced the Tugun community from this location since 2014.
Current Term: Lease recently extended via option, now expiring 2 March 2029.
Further Options: Includes an additional 1 x 5-year option.
Rental Increases: CPI
TUGUN COMPOUNDING PHARMACY (UPPER FLOOR)
Chris Testa’s Tugun Compounding Pharmacy is a specialised, second-generation medical business that focuses on tailored pharmaceutical solutions. Unlike standard retail pharmacies, compounding pharmacies create personalised medications specifically formulated for individual patient needs.
Expertise: Led by expert pharmacist Chris Testa, the business works closely with GPs, dermatologists, and veterinary professionals to produce custom hormone therapies, dermatological preparations, and high-strength anaesthetics.
Longevity: The owners have been a fixture of the Tugun medical landscape for over two decades, having operated on this specific site since 2004
Operational Reach: While serving the local Tugun community, the pharmacy also provides professional supply and shipping of compounded products to clinics and patients Australia-wide.
Unique Facility: The business occupies the upper floor of 457 Golden Four Drive and utilizes a dedicated service lift for efficient operations between levels.
Current Term: New 3-year lease expiring 31 October 2027
Future Options: with 2 x 3-year options.
Rental Increases: Fixed 3.5%
Lease Terms
Outgoings Schedule
Non-Recoverable $8,930.00
Financial Position
DESCRIPTION
(EXC GST)
Add: Recoverable Outgoings (Rates, Water, Insurance) $24,992.04
GROSS INCOME ESTIMATE
$244,097.52
Less: Total Operating Outgoings ($24,992.04)
Less: Land Tax (Non-Recoverable Statutory Cost) ($8,930.00) NET POSITION $210,175.48
Centre Zoning
Site Plans
Ray White Commercial Tugun
423 GOLDEN FOUR DRIVE, TUGUN
James Mulholland