Fast food headlined the final Burgess Rawson portfolio auction event of the year in Brisbane yesterday, taking the entire week’s haul of commercial real estate investments across the eastern seaboard offerings to nearly $90 million.

At the Brisbane event, a brand-new trophy KFC freehold in the Gladstone region’s Clinton sold for just over $6 million, on a 4.66% yield. The 3,076 sqm site has a 12-year lease to ASX-listed Collins Foods until September 2036 plus options through to 2054.

A Banjo’s Bakery drive-through property in Burpengary changed hands for $4.7 million, on a 5.34% return. Banjo’s has a 15-year lease with 10-year options at the 2,612 sqm site next to McDonald’s.

Also selling yesterday was the brand-new home of the Bundamba Discount Community Pharmacy, for $2.621 million, on a 5.31% return.

Burgess Rawson’s Andrew Havig said the results underscore the strong demand for high-quality investment opportunities.

The Melbourne event saw a convenience retail outlet in Cranbourne North leased to Jasbe sell for $5.3 million, while entry level assets were also sought after, with The Wheel Café in Berwick selling for $615,000, reflecting a 5.55% return.

Shaun Venables of Burgess Rawson said the results reflected on the strong performance, stating that the diverse mix of asset classes and high-quality tenants showcased in the portfolio underscores the robust investor demand for secure, long-term opportunities across multiple sectors.

The Reading Cinema Complex in Tasmania’s Devonport sold for $5.01 million. The main tenant occupies the premises on a 20-year lease with a 10-year option with the property boasting a 100% occupancy rate and a 4.3-year weighted average lease expiry.

Goodstart Early Learning centres in Queensland sold on tight yields at Tuesday’s Sydney event. The Highland Park centre sold for $3.45 million on a 4.16% yield while the centre in Beaudesert sold for $2.84 million on a 4.34% yield.

Australian Property Journal