Pharmacy Rent Report 2009 Released

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The following media release was issued by The Pharmacy Guild of Australia to announce the release of the Pharmacy Rent Report for 2009. The report was compiled in associated with Medici Capital and can be obtained through your local state branch of The Pharmacy Guild.

29 September 2009

Media release
Release of Rentals Report 2009

The Pharmacy Guild of Australia has released its Rentals Report for 2009, in the interests of promoting a deeper understanding of the issues that have an impact on pharmacy rents, leases and viability.

The Guild believes it is important that landlords understand the unique nature of community pharmacies, particularly in relation to their reliance on prices fixed under the Pharmaceutical Benefits Scheme. In this regard, community pharmacies are unique in the retail environment.

Pharmacy is in the middle of a transitional period as it moves to an amended PBS remuneration model through the PBS Reforms which were legislated in 2007. The Fifth Community Pharmacy Agreement which is under negotiation and will come into effect in July next year, will also have a significant impact on community pharmacy. A new Pharmacy Industry Award also takes effect next year, imposing higher costs on pharmacies in some circumstances.

Pharmacists are the most accessible of all health professionals because they are located in shopping centres and general retail locations, said Guild National President, Kos Sclavos.

It is vital for the Australian community that pharmacies remain accessible. To that end, it is important that landlords understand the unique role of pharmacies and the benefits of having them in all retail centres, Mr Sclavos said.

The Rentals Report 2009 is also provided to members as a useful reference and briefing tool for rental negotiations. The Guild acknowledges Frank Sirianni and Medici Capital for their assistance. The full report is available to Guild Members in the Member Publications section of the website at www.guild.org.au.

The release of the report also coincides with the launch of a new service which provides owners with a customised rental analysis of their pharmacy. The new service can provide a comparative analysis of up to 10 other leases, a summary of the pharmacy's lease and a suggested course of action to help when a new lease is negotiated.

To obtain the customised analysis members can phone 03 9853 7933 fax 03 9853 7990, or lodge your request on-line at www.medici.com.au/lease.