A popular food and services focused precinct at 442 Warwick Road, Yamanto, has sold for $9.8 million reflecting a 5.8 percent yield.
The centre is home to fast-food giants KFC and Hungry Jacks as well as The HairPort hair salon and food operator FantAsia.
The property was sold to a private investor from Sydney, with five tenants in total.
Ray White Commercial QLD salesperson Stephen Kidd said Hungry Jacks was on a 32-year head office lease, while KFC was on a 25-year head office lease (including options).
“Completed in 2014, 442 Warwick Road, Yamanto, is a well-established fast food destination, just seven minutes east from the Ipswich CBD,” Mr Kidd said.
“Part of the property’s success comes from large traffic exposure along Warwick Road, being exposed to some 73,500 vehicles each week.
“A true testament to how successful the operators are, is that the car park nearly requires traffic controllers some evenings as commuters pop in on their way home to the growing western suburbs.”
Mr Kidd said the property was a great investment for a few key reasons.
“The property was sold with development approval for a further 1196sqm of GFA,” he said.
“The food and services focused offering was very Covid resilient with some of the businesses recording record months during the first and second lockdowns
“The large anchor food tenants underpinned the attractiveness of the centre.”