“Our pharmacy is in a high-street location in suburban Brisbane. The local market conditions in the area have changed significantly with several large competitors opening. Our rent was $125,000 gross with 5% annual increases which just wasn’t sustainable. We engaged a consultant who was Beta testing a new, software-based, lease analysis tool called “GEM™”. The analysis results he presented to the determining valuer suggested that a reasonable rent should be about $75,000 gross per annum. And that is where it ended up.
You changed my life, buddy!”
Owner, QLD Suburban Pharmacy, 2018