Investors dig deep for neighbouring fast food restaurants
Two new fast food restaurants, beside each other in Perth’s outer south, have sold for a combined $12 million.
In the bigger deal, a KFC at 2/1 Adelong Avenue, also exposed to Warnbro Sound, Golden Bay, traded to a local investor for $6.3 million – a 3.89 per cent net passing yield.
A Victorian buyer meanwhile snapped up the neighbouring Hungry Jacks – 1/1 Adelong Ave.
That outlay was $5.7m.
The return was also low – 3.86pc.
CBRE’s Chloe Mason and Beau Coulter said 61 bids came in for the two properties at auction (continues below).
There were a combined 32 registered suitors.
Golden Bay is about 54 kilometres from town.
Earlier this week we reported two quick service retail investments at Lavington, a suburb of Albury, at the New South Wales/Victorian border, traded for a combined $10.2m.
Guzman Y Gomez and Oporto were those occupiers.
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