Foodworks supermarket Doreen sold to a private investor for $2.4 million reflecting a yield of 5.5 per cent, through Burgess Rawson’s Shaun Venables, Romanor Falconer and Jordan Bell. 

Located in the recently completed Vantage Centre development in Bassetts Road, the prime 388 square metre space is leased for 10 years with options to 2048 at a net annual rental of $133,473.

“Investors have always been attracted to supermarkets as investments because of the ‘essential service’ nature of what they offer,” said Mr Venables.

The result follows the recent sale of the Captain Cookes Fish and Chippery, the GnG Falafel and Frill and Crustic Pizza and Pasta in the same development.

The fast food outlets sold for prices between $700,000 and $895,000 with yields averaging 5.5 per cent.

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Doreen Foodworks sold for 5.5% yield by Burgess Rawson