Colliers International is continuing to sell down Westpac Funds Management Limited's national portfolio of properties leased to national fast food outlets, with premises in the Northern Territory to go under the hammer this month.

The premises, in Palmerston and Alice Springs, represent blue chip investment opportunities with both properties on long term leases with solid covenants in place.

1 Maluka Drive, Palmerston comprises a new ten year lease to Competitive Foods Australia who is operating a Hungry Jack's and a KFC in separate outlets on the 3,940sq m property until 2019, paying a combined $328,616 per annum with rent increases of 3.5 per cent per annum. Three five year options are part of the lease agreement.

45 Stuart Highway, Alice Springs is leased to Hungry Jack's Pty Ltd until 2014 with two five year options, paying $148,433 per annum with rent increases of 3.5 per cent per annum. The 325sq m premise is located on 3,730sqm of land.

Nathan Clark, Colliers International National Director of Retail, said with the sites being leased to one of the industry leaders in this field this offering will attract strong interest from retail investors.  

"The offerings are model retail investments with long term leases plus option periods to national retailers, and the Palmerston property has future development potential (STCA)," he said.

"We are particularly seeing interest in the portfolio from new investors in the commercial market, as they are seeking out properties with strong leasing covenants in place to provide security and cash flow in uncertain times, mostly compared to the current volatile share market or leaving cash in bank at low interest rates."

The auction of both properties will take place at 11am on Friday 23 October at the Darwin Airport Resort.

Alice Springs and Palmerston are regional cities within the Northern Territory both with populations of about 29,000 and servicing the tourism, defence, mining and cattle industries.

For further information please contact:

Sarah Stewart
National Communications Manager
Tel: +61 2 9257 0210
Mob: +61 411 66 1544  
Email: sarah.stewart@colliers.com  

Nathan Clark
National Director, Retail
Tel: +61 2 9017 6938
Mob: +61 437 242 450
Email: Nathan.clark@colliers.com

To view our current Commercial Properties for sale or lease, visit the Property Search page of our website