THE Hungry Jack's fast food restaurant in Wodonga's White Box Rise is on the market with predictions the property could sell for more than $3.75 million.
Built only six years ago, the restaurant is being offered for sale with a recently signed 12-year lease on September 18 at the next portfolio auction to be conducted by agents Burgess Rawson.
Director Raoul Holderhead said fast food properties remained particularly popular with investors, due in large part to their scarcity on the market.
"Fast food investments have been incredibly tightly held over the past 12 months," he said.
"But we've finally got one to offer for investors and we expect it to sell very well.
"Wodonga is rapidly growing towards the south, where the Hungry Jack's is located.
"It's in a prime position to capitalise on that growth."
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Positioned on a 2507-square-metre corner site with 109 metres of street frontage, the property is opposite the White Box Rise shopping centre which has Woolworths and Aldi supermarkets as anchor tenants.
Hungry Jack's restaurants have proven to be keenly sought investments on the commercial market in the past 12 months with one store sold by Burgess Rawson at Caroline Springs on Melbourne's outskirts selling for $2.95 million and another in the Moreton Bay area of Queensland for $4.2 million.
"Here you've got a prime site on a very prominent corner, as well as a long lease to a major brand operator," Mr Holderhead said.
Meanwhile, a large industrial warehhouse in Hoffman Road, Thurgoona recently leased to the defence department on a long-term deal is being offered for sale via an expressions of interest closing on October 10.
The property was originally purpose built for Dutch packaging company Van Leer in 1992 before the business was acquired by Huhtamaki seven years later.
In 2009 the business was taken over by Snopak.
L.J Colquhoun Dixon and CBRE are conducting the EOI.
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