The home of Port Pirie’s only Hungry Jacks outlet is being offered to the market, offering a secure retail investment opportunity in a prominent regional centre.
CBRE has been appointed to sell the 2,967sqm landholding at 32 Main Road - comprising a single story 187sqm retail fast-food outlet leased to the Possingham Family Pty Ltd as a franchisee for Hungry Jacks
Positioned along the main thoroughfare into the Port Pirie township, the property is currently leased on a 15-year term, with two five-year options available, for an annual net income of approximately $193,000.
CBRE’s Ben Heritage, who is selling the property in conjunction with colleague Will Brown, said the property’s strong tenancy profile would help underpin buyer interest.
“With 12 years remaining on the initial 15-year lease, this represents a fantastic opportunity for an investor to acquire a near new asset occupied by a renowned national food retailer,” Mr Heritage said.
“Surrounded by a number of well-known national retailers including Supercheap Auto and McDonald’s, this property is strategically positioned on one of the city’s most popular retail strips – a factor which is expected to attract strong investor interest during the sales campaign.”
Mr Brown said the property presented an attractive investment opportunity in one of South Australia’s largest regional cities.
“With this property accommodating the city’s only Hungry Jacks, it is positioned to support continued strong trading figures and subsequent guaranteed income return.”
“We anticipate strong interest in this blue chip asset, which represents one of the most attractive leased investments of this year.”
The property is being offered via public auction at the offices of CBRE located at 151 Pirie Street, Adelaide, on Thursday, December 8 at 11am.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
