Take a bite of this Whopper property deal
Hungry Jacks at No.112 William St, Devonport is on the market. Picture: Supplied
They say the burgers are better at Hungry Jack’s, but investors are being asked whether the deals are better too, as an ultra-rare outlet hits the market in Devonport.
No.11 William St is listed for sale with Elders Commercial and CBRE. It will be sold under the hammer this month.
Elders director of commercial sales in Northern Tasmania, Nicholas Bond, said Hungry Jack’s Devonport represents a blue-chip investment with a recently secured 10-year term to 2034, and an option to 2039.
“The property is located on a high profile 1979sq m corner, close to complementary brands such as KFC, Ampol and United Petroleum,” he said.
“Hungry Jack’s have tenanted the site since 2004 and funded its own site and branding upgrade in 2023.
‘Stand-alone quick service restaurant assets are infrequently traded in Tasmania. It is a privilege to bring this asset to market on behalf of a local Tasmanian family.”
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No.112 William St, Devonport.
No.112 William St, Devonport.
The offering provides an uncommon chance to secure a prominent national fast food ground lease.
The Mercury understands that it has been some 10 years since a similar ground lease hit the market in Tasmania.
A ground lease is an agreement in which the tenant leases the land only and constructs all the improvements on the site at their own expense.
CBRE’s Matthew Wright said the Devonport site represents a compelling opportunity in the market.
“This is a premium fast food ground lease investment underpinned by one of Australia’s most recognised quick-service restaurant brands,” he said.
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No.112 William St, Devonport.
No.112 William St, Devonport.
George Wilkinson, also from CBRE, commented that the commercial centre’s scale drives strong fundamentals.
“With a catchment of 70,000 people within 35km, Devonport delivers the population density that fast food operators need for viable long-term operations, which translates to secure income for landlords,” he said.
No.11 William St has 86m of combined frontage.
Its location provides direct access to the Bass Hwy, a major arterial road.
It is also just eight minutes from the Port of Devonport, which serves as a primary gateway for container goods in Tasmania, handling about half of the state’s total containerised freight.
The property has 25 on-title sealed and lined car spaces.
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No.112 William St, Devonport.
No.112 William St, Devonport.
It is part of a retail and service hub that benefits from strong co-location effects, anchored by major national brands: Woolworths, Coles, and Cellarbrations.
Hungry Jack’s operates as the Australian franchise of the international Burger King Corporation and is a wholly-owned subsidiary of Competitive Foods Australia.
Since opening its first store more than 50 years ago, the chain has evolved to become one of Australia’s largest independent fast food operators, with a network of more than 440 locations nationally.
The company employs over 19,000 staff and serves more than 1.7 million Australians each week, delivering over 125 million Australian beef patties annually.
Competitive Foods Australia reported revenue growth to $2.51bn for the 12 months ending June 30, 2025, up from $2.37bn in the prior year.
● Hungry Jacks Devonport will be sold at the next Investment Portfolio Auction to be held at the Crown Casino Melbourne, on February 25 from 10.30am.
