The tightly held fast food investor market is set to be tested with national property developer Andrew Welsh offering of a brand new Carls Jr investment in Armstrong Creek.
The fast-growing Stonebridge Property Group team are bringing to the market the under construction Carls Jr investment at the entrance of the Armstrong Creek Town Centre on behalf of Mr Welsh’s development group, Wei.Co.
Located on the Surf Coast Highway (a major thoroughfare in Geelong), the 1,853sqm site will attract interest from investors, especially those chasing long term security.
The freestanding fast food pad site is securely leased to Carls Jr with a passing net income of approximately $245,000. The pad site forms part of the wider Armstrong Creek precinct development which directly adjoins McDonalds, and neighbours Dan Murphys and Coles Neighbourhood Shopping Centre.
Stonebridge agents Kevin Tong, Justin Dowers and Rorey James will be marketing the fast-food pad site and anticipate the 12-year Net Lease to a national fast-food tenant will be hotly contested given the current low interest rates and limited opportunities.
Mr. Tong added “The growth in Armstrong Creek and Bellarine Peninsula is unprecedented now. With increased convenience of travel to and from the Melbourne CBD, coupled with the growing demand for sea change lifestyle, the Armstrong Creek Main Trade Area is forecasted to reach 101,860 residents by 2031.”
Stonebridge Director Rorey James also added “This asset ticks a lot of the boxes for investors. 12 Year NET lease to a national fast food tenant, with land and newly built, with interest rates where they are at the moment assets like Carls Junior Armstrong Creek become very logical investment options.”
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