Keep your head in the clouds in a property with its heart in the city
The house-like proportions at an exceptional vantage point make this apartment a once-in-a-lifetime opportunity for families set on luxury
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It’s hard to think of another city in the world that offers the kind of diversity and amenity that Sydney delivers. While many focus on the stunning harbour, there’s a myriad of beautiful waterways providing a connection to the natural environment while also keeping a finger on the pulse of a vibrant city centre.
This recently completed penthouse apartment on the Parramatta River in the heart of Sydney’s second major city is a perfect example of luxury living. Located in The Lennox, a 46-storey apartment building designed by Marchese Partners and JPW Architects, the property at 4602/12 Philip Street, Parramatta has four bedrooms and three bathrooms, with 3m-high ceilings adding to the sense of space and gracious comfort.
The open plan living and dining area features timber floors laid in a chevron pattern and leads onto an exceptionally well-equipped kitchen featuring Gaggenau appliances, a built-in coffee machine, a Vintec wine fridge and Zip hot and cold tap.
A generous, north east facing outdoor living area is accessible via bi-fold doors leading off the living area, offering commanding views of the surrounding area. The house-like proportions of the apartment allow for distinct sleeping and living zones, with three of the four bedrooms separated by the dedicated home office space. A fourth bedroom on the other side of the living area would be ideal for visiting guests.
In addition to the spacious apartment, the property is being sold with secure parking for three cars. There is also access to a 24-hour concierge service, as well as a 20m heated swimming pool, a fully equipped gym and a dedicated function room.
Address: 4602/12 Philip Street, Parramatta
Price guide: $4 million
Agent: Sunny Gandhi sunnyg@theagency.com.au 0421 336 689
Inspection: By appointment
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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.
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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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