5 Gateway Drive Springfield QLD 4300
- 271 m²
- Commercial Auction
Under Contract - 15 Year Lease - Booming Springfield Fast Food Asset
- Iconic fast food brand - Red Rooster
- Fixed 3.5% annual rent increases
- Net Income $168,700 pa + GST
Cushman & Wakefield are pleased to present to the market 5 Gateway Drive, Springfield (Brisbane) to be sold via Public Auction.
The property has the following key characteristics:
• 15 year lease to 2032 + options to 2052
• Red Rooster - Leading fast food chain owned by Craveable Brands & PAG Asia Capital with 580+ restaurants in Australia including Red Rooster & Oporto
• Prime location - Greater Springfield, one of Australia’s largest master planned cities, 28 kms west of Brisbane’s CBD, projected population of 118,000 by 2036
• Large frontage to Augusta Parkway, Springfield’s busiest road with over 31,820 vehicles daily (11.6 million+ annually)
• Thriving fast food precinct including McDonald’s, Guzman y Gomez & Zarraffa’s
• Adjacent to new Automall, Vicinity Home & Trade Precinct, proposed Brisbane Lions AFLW Stadium and R&F Developments 500+ apartments
• Tenant pays all usual outgoings
• Annual 3.5% fixed rent increases
• Net Income $168,700 pa + GST
The property is for sale by way of Cushman & Wakefield Investment Auction. The Auction will be conducted on Tuesday 3 December at 2pm AEDT at the Cushman & Wakefield Sydney Office, located on Level 22, 1 O’Connell Street, Sydney NSW 2000.
Prospective purchasers and interested parties will have access to remote bidding facilities in both Brisbane and Melbourne.
Should you have interest in bidding on the property from one of these locations, please liaise with the exclusive agents.
|Auction date and time||03/12/2019 14:00|
|Auction location||Cushman & Wakefield Sydney Office - Level 22, 1 O'Connell Street, Sydney|
|Floor Area||271 m²|
|Land Area||2,154 m²|
|Parking||19 x Onsite parkings|
|Building Type||Whole building|
|Annual Return||Ask Agent|
|Last updated||6 Dec 2019|