Sale QSR investment fetches $1.6m
A three year old quick service retail investment in central Sale has sold for $1.62 million.
The result for 308-310 York Street at the south east corner of Fitzroy Street reflects a 5.83 per cent net passing yield.
It is the first offering of its type to sell leased to Good Brew – Drive Thru Coffee.
The business, which offers food too, has three other Victorian outlets – at Bairnsdale, Traralgon and Warragul.
It also has a Dubbo store and is set to open at Cairns.
The vendor paid $515,000 in mid-2021 for the site which made way for the property – a historic dwelling last trading as a curry house.
Curry house turns coffee house
On 962 square metres, the Sale site with four car parks is passed by some 106,000 cars a week (continues below).
Good Brew – Drive Thru is on a new 10 year lease.
With options it can stay until 2056.
The incoming owner will be able to claim depreciation benefits for tax, Ray White Retail’s Rick Silberman said.
Sale, about 215 kilometres east of Melbourne’s CBD, has a greater population of c15,000.
With Longford and Wurruk it exceeds 19,000.
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