- Queensland's first freestanding GYG sold for $4.05m
- The site was marketed by Cushman & Wakefield
- Fast food sites remaining a "crowd favourite", the sale drew over 90 enquiries
Located in Queensland’s North Ipswich, the site of the state’s first freestanding Guzman Y Gomez (GYG) sold for $4.05 million, representing a low yield of 4.47%
A Sydney based private investor acquired the property.
The property was marketed by Michael Collins, Tom Moreland and Aaron Dahl from Cushman & Wakefield. The property drew over 90 enquiries from investors across Australia.
Cushman & Wakefield’s Head of National Investment Sales, Michael Collins explained this asset is unique in that it is occupied by the first freestanding GYG to trade in Queensland.
“Fast food investments continue to be highly sought after and the market responded well to the relatively new Guzman Y Gomez covenant.
Michael Collins, Cushman & Wakefield’s Head of National Investment Sales
GYG is a Mexican fast-food chain that started from a single store in Sydney. The property was newly renovated last year and is leased to GYG until 2030 with the potential of being extended to 2050.
“The rapid expansion and strong market presence of the Guzman Y Gomez brand presented an opportunity for investors to acquire an asset tenanted by a business that continues to trade strongly,” said Aaron Dahl, director Cushman & Wakefield.
“Their national footprint, resilience amid the pandemic, plus the added benefit of a well-appointed main road drive-thru, supports investors’ perceptions that this is a secure investment.”
The GYG is located on a 1,610 sqm site in a major retail area. The restaurant enjoys strong exposure with dual street frontage and access.
“Freestanding, retail investments with long-term leases, particularly within the fast food sector, remain a crowd favourite among investors seeking passive cash flow and assets within defensive industries,” added Tom Moreland from Cushman & Wakefield.
