South Grafton Subway building for sale
PLENTY of people grab a footlong every day from the Subway in South Grafton, but now they've got a deal for someone to really sink their teeth into.
The South Grafton store, which features a dedicated outdoor dining area and onsite parking is on the market. Currently leased to Subway, the world's largest sandwich restaurant chain with 44,000 stores worldwide, the property currently has a 15-year lease to March 2022 with 3 x 5 year with options to 2037.
Providing a net income of $46,000 pa + GST, increasing to $48,000 in March 2018, the highly frequented destination adjoins Hungry Jacks and Super Cheap Auto and is in a sought after retail position close to McDonalds, Bunnings, BCF, Caltex, BP, Red Rooster and Bridge stone.
According to selling agent, David Ingram, of Burgess Rawson, this property will be highly contested because Grafton/Clarence Valley is a booming commercial hub with a growing population of 51,000.
"Billions of dollars in service upgrades are driving an influx of new jobs to the area and in the process, boosting demand for housing and commercial investments alike,” Mr Ingram said.
"The property is situated in a landmark Pacific Highway location, capturing traffic flow from all directions and popular stop off point between Brisbane and Sydney. "This property will be extremely attractive to investors because of the rare 4% fixed annual rent increases.”