Knight Frank is excited to have instructions to offer for sale a modern and well located fast food restaurant located at 124 William Street, Devonport.

124 William Street Devonport presents a modern standalone building with drive through constructed circa 2012 comprising modern building services and high quality finishes. The building, located on a site in excess of 800 sqm benefits from significant exposure to passing traffic along William Street and is located within a well-established and popular convenience precinct comprising other national fast food chains and major fuel retailers. The property is fully leased to Zambrero Property Group Pty Ltd on a 10+ 5 year term commencing 12 May 2016.

Zambrero is a leading quick-service Mexican restaurant franchise established in Canberra in 2005. It has become a well-recognised brand operating in strip locations, shopping centres and drive through locations with over 160 stores nationally as well as stores in New Zealand, Thailand, Ireland and the United States.

124 William Street Devonport provides the ability for investors to acquire a highly modern asset presenting the following key attributes:

- Central location, close to supermarkets, services and retail
- Located in the centre of a well-regarded fast food and convenience precinct
- Modern construction (2012) with depreciation benefits
- Long term lease to Zambrero – expires May 2026 with option to May 2031
- Tenant pays all usual outgoings
- Annual rental increases at 4.00% p/a (next due May 2019)
- Current rental - $78,000 per annum + GST and Outgoings
- 8+ years remaining on initial lease term


To inspect this property or receive additional information, please contact Nicholas Bond of Knight Frank.