New Hungry Jack’s fetches $6.7m
A new Hungry Jack’s at Tamworth collected $6.7 million – a 4.63 per cent net passing yield.
On 1756 square metres at 242-246 Bridge Street, it includes a dual lane drive thru and 23 car parks.
It is also in a fast food hotspot neighbouring McDonald’s, Domino’s and Guzman y Gomez.
The Tamworth Shopping Centre is also nearby.
With options, Hungry Jack’s can stay until 2057.
The initial lease term is 12 years.
“This transaction highlights the continued demand for freestanding fast food investments across Australia as increased construction costs and lack of new supply continue to enhance investor competition for fast food assets,” Burgess Rawson for CBRE’s Yosh Mendis, who brokered the deal with Geoff Sinclair, said.
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