Geraldton Takeaway

Jul 17th, 2013

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Article by:
Marissa Lague

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Lease Equity sold a high-profile Geraldton fast food outlet at 184 North West Coastal Highway for $2.95 million, reflecting a yield of 6.85 percent.

The sale attracted wide interest, with more than 70 parties registering before it was sold to a Perth-based provate investor.

The property's tenants - Chicken Treat, Subway and Dominos have long leases and strong rental increase provisions.

Lease Equity said the weighted average lease expiry, the strength of the leases and the growing prosperity in the Geraldton area contributed to the strong interest.

 

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