Australia’s first Chuck E. Cheese up for grabs just weeks after opening its doors

The site of Australia’s first Chuck E. Cheese has hit the market in Perth’s north just weeks after its grand opening, with a price guide of mid-to-high $6 million.

Described as an exclusive, first-of-its-kind investment opportunity in Australia, Unit 3, 7 Winton Road, Joondalup is home to the American chain that features a multi-storey Adventure Zone indoor playground, arcade games, a climbing wall, a ball pit, giant slide, live shows featuring Chuck E. Cheese and VIP party rooms.

The Joondalup site is tenanted by Chuck E. Cheese, the American chain’s first Australian location. Picture: realcommercial.com.au

The Joondalup Chuck E. Cheese centre opened its doors to customers for the first time on Saturday 6 September, after the brand was brought to Australia via a strategic master franchise partnership with Royale Hospitality Group – who also hold the franchises of Milky Lane and Planet Royale, in conjunction with CEC Entertainment Inc.

“Chuck E. Cheese is a powerful global brand that transcends language and cultural boundaries, centered around the timeless essence of family fun,” said Mario Centola, COO of Chuck E. Cheese International in 2024, when the Australian expansion was first announced.

“We are thrilled to bring the magic of Chuck E. Cheese to Australia and to collaborate with the Royale Hospitality Group, a partner that shares our commitment to delivering exceptional family experiences.”

The brand celebrates half a million birthdays across its centres each year worldwide. Picture: realcommercial.com.au

The sprawling venue – which spans 1,622sqm – has been “hitting the mark” in generating buyer interest according to Cygnet West sales agent Wayne Lawrence, who is handling the sale in conjunction with Vend Property.

“It was being held by a private subsidiary that held it for a while,” Mr Lawrence said.

“They’ve just done the deal with Chuck E. Cheese, and when you are looking at commercial property, if you’re thinking about selling the best time is when you have a good lease attached to it.

The multi-storey Adventure Zone includes an indoor playground, arcade games, a climbing wall, a ball pit, giant slide, live shows featuring Chuck E. Cheese and VIP party rooms. Picture: realcommercial.com.au

“As you expect, there is plenty of investors out there looking for yielding assets with long term leases.”

It has a 10 year lease expiring in 2034, with fixed 3% annual reviews. Being the site of Australia’s only Chuck E. Cheese among almost hundreds of locations across the world, the property is being describes as a “blue chip investment”.

“With nine years left on the lease, fixed 3% reviews – the rents not high at all – it’s in line with market,” Mr Lawrence said.

A 10 year lease expires in 2034, with fixed 3% annual reviews. Picture: realcommercial.com.au

“So it’s not over rented and it’s a good concept – and the tenant and the landlord – there’s quite a bit of maintenance that’s gone into that fit-out.

“A lot of investment has gone into that asset.”

The family entertainment restaurant brand first opened its doors in 1977 in San Jose, California, and was one of the first establishments where children could enjoy pizza, games and animatronics. By 1986 the brand had become a global sensation, opening its first international store in Guatemala City. The company now operates nearly 600 centres across 16 countries, with half a million happy birthdays celebrated in its fun centres each year.

Mr Lawrence said the public response to Chuck E. Cheese has been fantastic, and its proximity to Joondalup Drive provides a lot of exposure.

“So even though it’s a Winton Road address, it backs on to Joondalup Drive, so there’s quite a high volume of traffic,” he said.

Strategically located near Perth’s Joondalup Drive, the site has exposure to passing traffic. Picture: realcommercial.com.au

“And, even though it’s strata, there’s only one other owner in the complex, which is Sydney Tools.”

The Expressions of Interest campaign to acquire the asset closes October 23.