Back in business with commercial investors
THE sale of a fast- food outlet at Hermit Park is an example of investors turning to property to chase returns amid the turmoil on sharemarkets, Ray White Commercial agent Tony Parker says.
Mr Parker, who recently joined the ranks of Ray White, has negotiated the sale of the freehold of 152 Charters Towers Rd for $ 940,000 to a local investor.
The 659sq m site contains a 200sq m retail outlet and drivethrough for fish and chip franchise Rock Paper Scissors.
Mr Parker said the deal repre- sented an attractive yield of about 9 per cent.
“There is demand for properties showing good net returns,” Mr Parker said.
“There seems to be quite a few people turning back to property as an investment because the return on money in the bank is not so attractive and the stockmarket is so volatile with all the goings- on at the moment.
“Properties with a good net yield, particularly those with national tenants, will move quickly.”
A next- door property, a 929sq m showroom on a 1943sq m site, tenanted by SuperCheap Auto at 148 Charters Towers Rd, sold at auction earlier this year for $ 3.57 million, representing a 7.3 per cent yield.
Mr Parker, an accountant and business owner who opened the Cheesecake Shop in Hermit Park in 1996 and is the owner of the La Porchetta restaurant, also in Charters Towers Rd, said he had embarked on something of a career change with his role as a sales and leasing executive with Ray White Commercial Townsville.
He said his business experience and expertise were definitely a help when it came to crunching the numbers for clients.
YIELD: Ray White’s Tony Parker at the Rock Paper Scissors outlet.