Domino’s Leased Retail Outlet Sold
A tenancy leased long term to ASX-listed Domino’s Pizza Enterprises in a major retail hub at Ferntree Gully east of Melbourne has been sold by Ray White Commercial for $682,500.
The approximately 115 sqm outlet at 7a/1009 Burwood Highway, Ferntree Gully, was sold to a private investor by Ray White Commercial Victoria Director Brett Diston on behalf of a private owner for a yield of approximately 5.0 per cent.
Brett Diston said there was strong demand for this investment opportunity which has Domino’s paying net rental of $34,200 per annum.
“Domino’s, one of Australia’s most successful companies with more than 1400 stores worldwide, has recently secured a new seven year lease of this tenancy,” he said.
“The shop has a brand new fitout and the tenant pays all the outgoings including land tax.
“The property is in a high profile retail location adjoining Aldi, Nandos, Chemist Warehouse and KFC.
“The site also has plenty of parking and excellent exposure to Burwood Highway.”
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