QSR Investment Changes Hands for $6.1M

The site of a Hungry Jack’s in Harristown has been acquired for $6.1 million in an off-market sale reflecting a 4.45% yield, one of the sharpest yields for a regional Quick Service Restaurant (QSR) in Queensland in the past 24-months.

The transaction was managed by CBRE’s Harrison Coburn and Mikaela O’Farrell.

Located at 163-173 Anzac Avenue, the property represents a 256 sqm investment secured by a long-term net lease until 2035 to top-tier QSR retailer Hungry Jack’s – Australia’s second largest fast-food chain with more than 50 years of trading history and more than 450 outlets nationally.

Mr Coburn said, “Off the back of CBRE’s recent on-market QSR campaigns, we continued to work closely with an active buyer and strategically approached the owner with an offer to purchase.”

Mr Coburn noted this transaction highlights the continued investor demand for assets in the sector, especially those tenanted by A-Grade covenants like Hungry Jack’s. Investor appetite for new QSR assets remains robust, driven by limited new supply and elevated construction costs.

The property is located 110km west of Brisbane within the Toowoomba Region, on a high profile 2,987 sqm site with exposure to approximately 13.77 million cars annually.

Ms O’Farrell noted CBRE continues to observe strong levels of enquiry for these prime investments offering significant depreciation benefits.

“We expect demand to remain strong, with investors continuing to target high-quality assets secured by tier 1 covenants,” she added.

This sale marks the fourth QSR investment CBRE has transacted in Queensland over the past four months, following Hungry Jack’s at Gracemere ($6.4 million), Pizza Hut & Zambrero at Deception Bay ($4.5 million) and KFC at Gordonvale ($5.808 million).