Hungry Jacks drive through sold for circa $5 million

A local private investor has purchased Hungry Jacks Beenleigh for $5,120,000, as the asset class remains highly sought after by investors.

Located at 151 George Street, the property was built in 2017 as part of a four-stage retail and health precinct developed by Enhance Property Investments.

The property was underpinned by Hungry Jacks on a 13-year initial lease term, who are the largest franchiser of restaurants in Australia with over 440 locations nationwide.

CBRE’s Harrison Coburn and Nick Kennedy negotiated the sale which represents a yield of 4.68%.

“We are continuing to see strong investor demand for quick service restaurant retail investments that are underpinned by blue-chip tenants in strong performing retail precincts. The on-market campaign fielded over 130 enquiries and received 11 competitive offers,” Mr Coburn said.

“Due to increased construction costs, we are seeing a limited supply of quick service restaurant retail investments being built and coming to market. As a result, we expect this sector to remain buoyant and highly sought after throughout 2024.” said Mr Kennedy.