Burgess Rawson is pleased to offer to the market, Red Rooster Centre, Burleigh Waters QLD for sale via Private Treaty.
The property has the following investment highlights:
+ Drive-thru Red Rooster and 5 fast food/convenience retail shops on one 4,579sqm* freehold title.
+ Prime location on Gold Coast’s 2nd busiest intersection, with over 83,000 vehicles passing daily (1).
+ Highly strategic landholding; seamlessly integrated with McDonald’s and Treetops Plaza Shopping Centre (Coles and Chemist Warehouse), and opposite Bunnings Warehouse, Australia Post and Westpac
+ Easy access and generous on-site parking for 43 cars*.
+ Robust leasing arrangements for the landlord; 5.6 year WALE (Weighted Average Lease Expiry), 60% of the rent from national/international tenants and 5 of the 6 tenants have no options beyond 2030.
+ Outstanding 37% sales growth (all tenants combined) in the centre since September 2020.
+ Set-and-forget net lease terms with favourable annual rent reviews and tenants responsible for rates, building insurance, public liability insurance, repairs and maintenance.
+ Medium term potential to occupy, redevelop and/or subdivide (STCA) and re-sell individually.
+ Low 15% site coverage* and flexible “Centre Zone” zoning, allowing for a wide variety of uses and potential 8-9 level development (STCA).
+ Booming Gold Coast location with 70% house price growth over the last 2 years (2) and 45% forecast LGA population growth by 2041 (3).
+ Australia’s fast food industry is tipped to hit $22 billion in 2022 (4).
+ Projected Net Income: $544,089 pa + GST (5).
To be sold by Private Treaty
*Approx
1. GapMaps
2. realestate.com.au
3. Queensland Goverment
4. IBIS World
5. Based on Sep CPI
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