Vacancy in commercial property is the big concern for investors looking to make a start in commercial property investment.  Many settle for the safer lower risk environment that is residential property.  While the business environment is constantly changing, the food segment continues to grow and is now a sought after tenant type for commercial properties.

Fast food drive through or stand alone properties are achieving record sales results with a recent KFC site in Artarmon in Sydney selling at a yield rate of 3.96%.  Drive through developments in Wagga are popular although tightly held, reflecting the confidence in this area.  New developments have been quick to lease with the big 4 (McDonlads, KFC, Red Rooster and Hungry Jacks) always keen to secure strategic arterial road sites.

Main Street food retailing has continued to strengthen with a number of new players entering the market over the past 12 months.  Western Australian franchise Pasta Cup chose Wagga to open its first interstate store and has now been trading for over 3 months.  Franchisee Jason Pearce states “that customers have embraced this new fresh food concept in Wagga making us the highest turnover store in the chain.”  Mexican food stores Zambrero and Guzman Y Gomez both selected Wagga’s main street to set up their stores while Griffith Italian restaurant operators Giuseppe’s opened in Kincaid Street in the ex Thirsty Crow Brewery building and have been going gang busters since their opening before Christmas.  Featuring recently in the news has been the Blessed Bean with their renowned success in Trail Street and the expansion of their operation to four stores including one in Byron Bay. The move by Mates Gully into the historic Manor in Morrow Street, the move by The Thirsty Crow into Fitzmaurice Street and the opening of Thaigga and Café Sonder in Fitzmaurice Street are further examples of the strength in food trading in our city.

Fitzpatricks PCI Commercial are working with a number of new food operators and are the go to agency for commercial leasing and CBD food sites.  Visit our new website today at www.fitzpatricks.com.au or follow us on social media. Twitter: @waggacommercial  Facebook: @FitzpatricksCommercial