4,579sqm Fast Food Site With Medium Term Development Potential*
Burgess Rawson is pleased to offer to the market, Red Rooster Centre, Burleigh Waters QLD for sale via Investment Portfolio Auction 157.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, at the junction of Southport Burleigh Road and Reed Creek Road, 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.
Low 15% site coverage* and flexible “Centre Zone” zoning, allowing for a wide variety of uses and potential 8-9 level development (STCA).
Medium term potential to occupy, redevelop and/or subdivide (STCA) and re-sell individually.
Robust leasing arrangements for the landlord; 6.5 year WALE (Weighted Average Lease Expiry) and 5 of the 6 tenants have no options beyond 2030.
Set-and-forget net lease terms with favourable annual rent reviews and tenants responsible for rates, building insurance, public liability insurance, repairs and maintenance.
Easy access and generous on-site parking for 43 cars*.
Booming Gold Coast location with 70% house price growth over the last 2 years (2) and 45% forecast LGA population growth by 2041 (3).
Projected net income: $546,768 pa + GST (4).
To be sold by Investment Portfolio Auction 10:30am AEST Thursday 8th December 2022
The Hilton, Brisbane
*Approx
- GapMaps
- realestate.com.au
- Queensland Government
- Based on Sep CPI
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