Hungry Jack's in NSW's Griffith fetches $3.4 million at Burgess Rawson auction

A property leased to fast-food chain Hungry Jack's in Griffith in NSW sold under the hammer for a yield of 5.1 percent at a Burgess Rawson portfolio auction in early April.

The 49-53 Jondaryan Avenue property fetched $3.4 million at auction.

It is a 240 sqm restaurant, which was refurbished in 2013 to Hungry Jack's corporate design and layout with customer drive thru and 31 onsite car spaces.

The land area is 2,400 sqm and it located between town centre and Griffith Homemaker Centre anchored by Bunnings.

The property is on a secure 10-year lease to Hungry Jacks Pty Ltd until February 2023 with options for three 10-year extensions.

The rent is $172,096 pa plus GST and there will be a minimum 3 percent rent increases. 

The tenant pays usual outgoings excluding land tax.

Griffith is a regional city in NSW with a population catchment of 52,000.