Mt Annan Red Rooster sells on a yield of nearly 4 percent at Burgess Rawson auction

Mt Annan Red Rooster sells on a yield of nearly 4 percent at Burgess Rawson auction
Mt Annan Red Rooster sells on a yield of nearly 4 percent at Burgess Rawson auction

A well performing Red Rooster outlet at Mt Annan has recently sold for $3,165,000 on a yield of 3.96 percent at Burgess Rawson’s portfolio auction.

The fast-food retailer has a secure 10-year lease to 2023 plus options through to 2033. Corporate lease in place to Red Rooster Foods Pty Ltd

The shop at 249 Waterworth Drive is on a 2,287 sqm site including a drive-thru facility.

The property earns a net income of $143,262 pa plus GST. 

Lessee pays all usual outgoings including Land Tax.

It has access to the busy Narellan Road – major connector road to Sydney CBD via Hume Motorway.

The selling agents were Raoul Holderhead and Kieran Bourke of Burgess Rawson.

The property last sold in 1997 for $750,000. The vendor was Amalgamated Food & Poultry Pty Ltd, CoreLogic RP Data reveals.

In another deal, a shopping centre  in Toowoomba's northern suburbs which has a Red Rooster has sold for nearly $2 million at Burgess Rawson’s portfolio auction.

The centre at 281-285 New England Highway, Harlaxton, sold for $1.8 million, according to The Chronicle.

In 2015, Red Rooster's outlet at NSW's Coffs Harbour sold under the hammer for $2.2 million at another Burgess Rawson auction.

The 5/380 Pacific Highway eatery is on a renewed lease to April 2021 with three five year options.

Tags: 
Sydney Commercial Auction

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