Two new border town QSR assets sell
Two restaurants near the New South Wales/Victoria border, recently completed on part of an ex-petrol station, have sold for a combined $10.2 million.
The result for the Guzman Y Gomez and Oporto at 373 Wagga Road, on the north east corner of Kaylock Lavington, reflects a 4.27 per cent net passing yield.
Both buildings contain a crossover, drive-thru and customer car park.
Guzman Y Gomez is committed for 20 years – with fixed 3pc rent rises.
With options, it can stay until 2065.
Oporto is on an initial lease expiring 2037, with fixed 3.5pc rent rises, and options to 2057.
The incoming owner will be able to claim tax depreciation benefits (continues below).
Site sell down
Stonebridge’s Rory Alexander, Michael Collins, Tom Moreland and Aike Sakeson marketed the Lavington quick service retail investments.
The balance of the 7175 square metre ex-service station – 375 Wagga Rd – made way for a Hungry Jack’s which sold last July for $4.41m.
Lavington is about six kilometres north east of Albury, at the New South Wales/Victorian border.
Also today we are reporting a Perth large format retail investment sold for $23m.
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