In a landmark deal, Stonebridge Property Group has successfully negotiated the sale of Guzman y Gomez Thornleigh, a newly established drive-thru on Sydney’s Upper North Shore, for $12,275,000. The result is the highest recorded price for a Guzman y Gomez freehold and showcases the escalating investor demand for newly built, long-leased fast food investment property.
Acquired by a private investor following six formal offers, contracts were exchanged unconditionally on short 14 day settlement terms.
The property was sold via a national expressions of interest campaign, conducted by Tom Moreland, Michael Collins, Rory Alexander and Aike Sakeson, which generated 166 enquiries.
This transaction ranks as the second largest fast-food sale on record in Australia, surpassing Stonebridge’s recent $11,650,000 sale of McDonald’s Glendale, in Newcastle, at a 3.86% yield.
Thornleigh also sets a new price benchmark for the Guzman y Gomez brand, building on Stonebridge’s recent sales of Guzman y Gomez & Oporto Lavington (Albury) for $10,000,000 at a 4.27% yield and Guzman y Gomez Clyde North (Melbourne) for $5,900,000 at a 4.65% yield.
The new GYG outlet is secured by a 20-year net lease to 2046, with options to 2076 and fixed 3% annual rent increases.
Commenting on the sale, Stonebridge Partner, Tom Moreland, said: “The landmark sale reinforces the depth of demand for quality freestanding investments, with premium fast-food assets remaining particularly sought after. This marks Stonebridge’s 22nd fast food transaction in the past 12 months, taking our total sales across the sector to more than $120 million.”
Stonebridge’s fast-food sales over the past 12 months span the sector’s leading national brands, including Hungry Jack’s Cranebrook (Sydney) for $7,400,000 at a 4.39% yield and KFC Aura Caloundra (Sunshine Coast) for $6,030,000 at a 4.28% yield.
Stonebridge Partner, Michael Collins, added: “We continue to field strong interest for fast food investments, which are tightly held and have stood the test of time through many market cycles. Investors across this asset class take a particularly long-term view and this is reflected in the depth of interest across high profile campaigns such as GyG Thornleigh.”
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