UNDER THE HAMMER: Subway on Queen Elizabeth Drive was sold at auction in Melbourne for close to $2M on Wednesday.
UNDER THE HAMMER: Subway on Queen Elizabeth Drive was sold at auction in Melbourne for close to $2M on Wednesday. Melanie Plane

Is this Rocky's most expensive sandwich shop?

WHEN it comes to the Rockhampton commercial market, investors appear to have a hunger for property of the fast food kind.

Investors continued to take advantage of the low interest rate environment at the Burgess Rawson portfolio auctions in Sydney and Melbourne this week, splurging more than $100 million.

And close to $2M of that total was spent in Rockhampton.

The prime site of the popular Rockhampton Subway outlet at 3-5 Queensland Elizabeth Drive sole for $1.805 million at auction in Melbourne on Wednesday and in the process sold for the lowest yield of the offerings at 4.98%.

It is the second Subway site and the third fast food site, to be snaffled up by an investor in the last month.

In September, Knight Frank Rockhampton Commercial Sales and Leasing Consultant Jonathon Offord sold the site of Rockhampton CBD Subway on the corner of East and Williams Sts for $800K.

Wednesday's auction result follows the September sale of 113-117 Musgrave St which plays host to a Red Rooster franchise.

The site was sold at auction by agent Burgess Rawson for $1.6M.

Burgess Rawson's next auction will be held in December.



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