This article is from the Australian Property Journal archive
A PORTFOLIO auction event held in Sydney yesterday saw a Hungry Jack’s outlet in north-west Newcastle trade under the hammer for $5.83 million, ducking under the 5% yield mark.
The Burgess Rawson event saw nine properties go under the auctioneer’s gavel, but just three sell, for a combined $18.2 million.
The new Hungry Jack’s investment in Tighes Hill has a 12-year lease to the fast food giant to 2035, with options to 2055, and is on 1,047 sqm of land.
A medical centre investment in North Gosford, on the Central Coast, fetched $7.3 million, on a 7.04% return. Major ASX-listed medical company Sonic Healthcare has a newly renewed 10-year lease to 2034 plus options with 4% fixed annual rent increases.
Also selling was a Dubbo childcare centre, for $5.084 million. The modern 120-place facility has a 12-year lease to 2033 plus options to 2048 to national operator Insight Early Learning.
