This blue-chip investment comprises two experienced and successful retail operators, with a combined WALE in excess of 13 years, providing you with long term income growth, long term income security and substantial capital gain.
• Pearl Energy occupy a 234 m² tenancy, provide 80% of the income stream and pay a base rent of $300,000 plus a proportional share of outgoings, apart from land tax.
• Evive Chicken Carvery occupy a 125 m² drive thru tenancy and pay a base rent of $75,000 plus a proportional share of outgoings, apart from land tax.
Peal Energy is a very successful business with over 50 service stations currently operating and a further 15 set to open by the end of 2022. Pimpama will be Evive Chicken Carvery's fourth business and will be their flagship drive-thru store.
The subject centre was completed in the middle of 2021 and has already acquired a huge customer base. This is reflective of the prime multi-street exposure coupled with its close proximity to 3 major schools being:
• Pimpama Primary School,
• Pimpama Secondary School and
• St Joseph's College.
With over 3,150 students across the three schools, the parents and families traverse the roundabout in front of the subject property, during their drop off and pickup runs, 10 times a week. The other drawcard to the centre is the offerings of the two businesses. Pearl Energy is a fuel discount leader who pride themselves on always offering the best priced fuel. With kids in the car and their pocket at the forefront of their minds, this centre is at its busiest between 3.00 to 4.00 pm when kids finish school and are on their way home. Once the car has been fuelled, the convenience of the delicious chicken from the drive-thru is hard to resist.
For a detailed information memorandum and link to the due diligence folder, Contact Stephen and Elliot today.
Key Words:
Drive-thru / Fast Food / Prime Retail Asset / QLD Retail Investment / Service Station / Service Centre / Fried Chicken / Brand New / Great Depreciation / SEQ Investment