Put a Newcastle Maccas on your menu
Commercial property investors with a penchant for cheeseburgers may see a golden opportunity in this new Maccas site listing that is just 11km from the Newcastle CBD.
McDonalds Wallsend has been listed for sale with JLL’s Dylan McEvoy and Sam Hatcher on behalf of Haben Property Fund.
The Golden Arches at 20-24 Kokera St is nestled between a high density residential suburb that adjoins a major Newcastle shopping centre – Wallsend Village – and is opposite the Wallsend Oval.
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Maccas have leased the property on a 25-year tenure agreement expiring in December 2039, currently generating a net income of approx. $404,551 per annum.
Potential landlords may even be lucky enough to score the occasional free cheeseburger, if they play their carbs right with the tenant.
Open 24 hours a day, 7 days a week, the modern Maccas building sits on a large 4063sqm block with 62 carparking spaces.
An information memorandum from JLL states that Maccas boasts over 68 million customers worldwide, selling a whopping 75 hamburgers a second.
“McDonalds leases are one of the most desirable covenants within the retail and fast food asset market due to their superior and rare lease structure for investors,” McEvoy says.
“Leased McDonalds investments are quite rare to be offered for sale within the market as McDonalds primarily own, develop and hold their own sites” he says.
Hatcher further highlights Wallsend as one of the fastest growing corridors in the Newcastle metropolitan area.
“The city of Newcastle has seen strong growth in the past decade showing a population growth of 15.4 per cent between 2011 and 2016 and a positive amount of development in recent years to the Newcastle University and the Newcastle light rail system,” Hatcher said.
The agents were tight-lipped on a price guide for the property, which will go to public auction on November 26 at 10.30am.
This article from the Newcastle News originally appeared as “Wallsend McDonalds site for sale perfect for investors”.