A prime retail investment at 51 Tiffany Centre, Dalyellup (Bunbury) Western Australia has been sold for $6.94 million – 6.6% yield through Burgess Rawson’s Beau Coulter, Yosh Mendis and Jamie Perlinger in conjunction with Cushman & Wakefield’s Ben Younger and Nick Charlton.

This state-of-the-art convenience retail and fast-food establishment is leased to 7-Eleven and Chicken Treat and secured by long-term net tenancies of 12 and 10 years, respectively, along with options.

Burgess Rawson’s Beau Coulter said they received strong interest during the Expressions of Interest  campaign with more than 60 enquiries. 

“Newly constructed properties like this, featuring long-term leases with global brands, are increasingly  sought after by investors looking for security and opportunities to off-set income via strong  depreciation,” he said.

Mr Younger said the positive blend of a leading international fuel group and a fast growing national  fast-food covenants made this an appealing opportunity within the market, particularly due to its  position in the Dalyellup township opposite Woolworths, Hungry Jacks, KFC and Coles which are under  construction. 

The property provides a net income of $460,370 per annum with fixed annual rent increases of 3% and 2.7%, with tenants responsible for all outgoings, including land tax.

Located on a 3,704 sqm freehold landholding, the site boasts a prominent triple frontage and is near  major retailers such as Woolworths, KFC, and a new Coles Supermarket. The surrounding Dalyellup Beach Estate is projected to accommodate 11,000 residents which added to the appeal of the asset.