Want fries with that?: Why Katherine Macca’s has hit the market
A Territory fast-food outlet is going under the hammer this month in a mortgagee sale. Find out the details.
Business
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Katherine’s Macca’s has been placed on the market for a mortgagee sale and will be auctioned at the end of the month.
Agents Knight Frank are selling the fast-food outlet, built on 4050 square metres, at 15 First St.
The takeaway is built on 4050 square metres, with the agents pointing to good quality bitumen sealed driveways and 42 vehicle parking bays.
One of more than 38,000 Macca’s restaurants in over 100 countries, it is the only McDonald’s in the Katherine region, with the nearest competition at Coolalinga.
It’s built one street from the Stuart Highway.
Zoned Central Business, the agents said the site offered “future development potential”, subject to approvals.
The current lease term is five years and expires on July 2029.
A market review will be undertaken in July, followed by an annual review for CPI and turnover rental growth.
Knight Frank said in addition to the triple net base rental, there is “substantial turnover rent” paid over and above the base rental.
If sold, the 2023-24 turnover rent will pass 100 per cent to the new owners after settlement and invoice in September and October.
The agents say another purchase point is that McDonald’s pays 100 per cent of “outgoings” including insurance and structural maintenance at the site.
“This property makes for an ideal superannuation fund investment or property investment to compliment or start your portfolio,” the agent’s selling sheet said.
“(It’s) an investment in northern Australia within proximity of Tindal Air Force Base and significant mining tenements.”
In 2016, Katherine Macca’s made national headlines when Ban Ban the horse was photographed waiting in the car park while his owner, Charlie Eelyt, ordered a chai latte
The property will be auctioned at 12.30pm on Tuesday, April 30 in Margaret St, Sydney.
Live viewing and bidding will be available online or at the Knight Frank’s NT office at 46 Smith St.
Inspections will be held on Friday, April 12 and Saturday, April 13 from 12pm to 2pm,
and on Friday 19, and Saturday, April 20 from 12pm to 2pm.
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