A world of quiet luxury with Fisher & Paykel
2 min
Of all the rooms in the house, it’s the kitchen where the job description has expanded the most.
Part food preparation and service area, in many homes it also serves as a homework hub, home office and the key point of supervision and activity. Add to that its position in open plan design and it’s an extraordinary amount of pressure to put on one room to perform.
The choice of appliances, then, is critical.
In this apartment in Melbourne’s desirable St Kilda, Wolveridge Architects have designed an open plan space that is as efficient as it is beautiful. Taking its design cues from the 1980s tower from the Parkside Apartment’s exterior architecture, custom designed joinery allows the spaces to flow seamlessly from living to kitchen, offering the perfect transition for entertaining guests as the action moves from the kitchen to the dining space and even onto the balcony.
Inclusions such as the integrated Fisher & Paykel Column Freezer and Column Refrigerator designed into the cabinetry allow the living, dining and kitchen space to be read as one quietly elegant space ideal for intimate evenings at home, as well as hosting family and friends.
The decision to specify induction cooktops was a deliberate nod towards futureproofing the space as we move towards fossil-fuel free goals. A blueprint for how well adaptive reuse can be executed, this hardworking apartment now exudes an air of effortless luxury ideally suited for 21st century living.
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A legacy “partner” lease structure tied to sales, not fixed rent, is drawing investor attention as a potential hedge against inflation.
2 min
A McDonald’s restaurant in Yass has been brought to market with one of the last remaining pure turnover leases in Australia, offering investors a direct share of revenue rather than a traditional fixed rental return.
The asset, located at 1713 Yass Valley Way, is being marketed by JLL via an expressions of interest campaign closing on 30 April. It is underpinned by a legacy lease structure no longer offered by McDonald’s in Australia.
Under the arrangement, the landlord receives 6.5 cents for every dollar spent at the restaurant, creating uncapped income growth linked directly to sales performance.
The lease is structured as triple net, meaning no operational risk, capital expenditure obligations or management responsibilities for the owner.
According to JLL, the property has recorded compounded annual sales growth of 4.26 per cent since 2003, with rental income rising by 150 per cent over the same period.
JLL’s David Mahood said the structure allows investors to “participate directly in the sales growth” of the business, rather than relying on fixed annual rent reviews.
The newly commenced lease runs to 2036, with four additional 10-year options extending to 2076, providing a weighted average lease expiry of 9.92 years by income.
The asset sits on a 3,571 square metre freehold site in Yass, with significant frontage to the Hume Highway, one of Australia’s busiest freight corridors.
The location benefits from high volumes of passing traffic, including an estimated 75,000 vehicles per day.
The quick service restaurant sector has remained resilient through economic cycles, including the pandemic and recent cost-of-living pressures, with McDonald’s continuing to expand its footprint and invest in store upgrades across Australia.
JLL pointed to strong investor demand for McDonald’s-backed assets, with recent transactions typically yielding between the high 2 per cent to mid 3 per cent range.
The Yass listing is expected to attract interest due to the scarcity of turnover-based leases, which provide a natural hedge against inflation by linking income growth to consumer spending rather than predetermined increases.
McDonald’s Yass is available for sale via an Expressions of Interest campaign closing at 3:00pm (AEST) on Thursday, April 30.
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