A landmark freestanding retail complex in Newcastle’s growing western corridor has hit the market by Burgess Rawson National Partners, Yosh Mendis and Darren Beehag. The opportunity offers investors a rare opportunity to secure a high-profile, multi-tenanted asset anchored by one of Australia’s top fast food brands, Hungry Jack’s.
Located at 10-16 Medcalf Street, Warners Bay, The Bayside Centre was purchased and further developed by Gibbens Group and spans 12,674sqm on a significant main road corner site.
The property is home to a newly developed Hungry Jack’s with a dual-lane drive-thru and features a strong line-up of nationally recognised large format retail tenants including National Tiles, The Salvation Army, Anytime Fitness, Choices Flooring, and Koorong. The site returns a net income of $1,161,231 per annum plus GST.
Mr Mendis said the offering presents a rare combination of long leases, essential service tenants and rental growth potential with current below market rentals.
“This is a highly strategic investment with immediate income security and future rental and capital upside,” Mr Mendis said. “The new Hungry Jack’s is a significant drawcard given rarity of the fast food assets class as well as being coupled with quality and diverse national tenants on favourable and attractive net lease structures.”
The Bayside Centre benefits from dual street frontage totaling 245 metres and sits opposite McDonald’s and close to other major national retailers including KFC, Guzman y Gomez, Officeworks and The Good Guys. Located on one of Newcastle’s busiest roundabouts, the site captures thousands of passing vehicles daily.
Mr Beehag said interest is expected to come from both institutional and private investors.
“Newcastle continues to outperform, driven by strong population growth, infrastructure investment and diversified employment. This asset is right in the middle of that growth story, and with below-market rental rates in place, it offers considerable future upside,” Mr Beehag said.
Newcastle’s economy contributes more than $21 billion annually, reinforcing its position as one of NSW’s most robust markets.
The asset is being offered for sale as part of Burgess Rawson’s premium Portfolio SELECT via an Expressions of Interest campaign closing 21 May 2025.
Related Articles
