McDonald’s Yass listing offers rare turnover lease with uncapped income potential
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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A landmark beachfront home in Balgowlah Heights has sold for $17.5 million, setting a new residential record for the tightly held Northern Beaches suburb.
The six-bedroom residence at 30A Beatty Street changed hands on July 21 through Clarke & Humel Property, eclipsing its own previous benchmark by $5.7 million.
The property last sold for $11.8 million in October 2017, a result reported as a Balgowlah Heights record at the time. Its latest sale represents an increase of more than 48% in almost nine years and places it well ahead of other known sales in the suburb.
It is not the first time the address has reshaped local expectations. The home sold for $3.15 million in 2013 before extensive alterations and additions transformed it into the substantial trophy residence seen today. From that transaction to its latest sale, its recorded value has increased more than fivefold.
Occupying 1,074sqm in an exclusive no-through pocket, the property backs directly onto the golden sand of Forty Baskets Beach. A gate at the bottom of the garden opens to the beach and surrounding foreshore walks, creating the kind of direct harbour access rarely available on the Northern Beaches.
The home’s elevated, cascading design takes full advantage of its position. Walls of glass frame panoramic views across North Harbour, while a succession of indoor and outdoor living spaces follows the slope towards the water.
Arrival is suitably dramatic. The four-car garage—complete with harbour views—is connected to the residence by a lift. From there, a covered walkway leads through tropical gardens to an entrance framed by a koi pond, stone flooring and soaring ceilings.
At the centre of the home is an expansive living and entertaining level. A stone kitchen fitted with Miele appliances steps down towards the view, incorporating an integrated refrigerator and freezer and a built-in breakfast bar positioned to overlook the harbour.
The adjoining formal dining room opens through a bi-fold wall to a landscaped side courtyard. A substantial living room, anchored by a gas fireplace, also connects to the main terrace, creating a continuous relationship between the interior, gardens and water.
An electrically operated roof allows the terrace to be used in different weather conditions, while automated internal blinds and ducted airconditioning add to the home’s extensive technology and comfort features.
Outside, the entertaining areas continue around a swimming pool and spa. A built-in barbecue, steam room and generous terraces give the property the atmosphere of a private resort, with the beach only steps away.
The accommodation has been arranged to suit a large or multigenerational household.
Four bedroom suites occupy an upper level, while the main bedroom commands an entire floor. The private retreat includes sweeping harbour views, a large walk-in wardrobe and a luxurious ensuite.
On the lower level, a billiard room and bar are accompanied by two bedrooms and a bathroom. A separate self-contained studio provides further flexibility for extended family, guests or live-in staff.
The residence also includes a private home office, yoga room and extensive storage—features that allow it to function as both a secluded family home and a large-scale entertaining destination.
Sustainability and energy resilience have also been incorporated through solar panels and a Tesla battery.
Despite its rare waterfront setting, the property remains close to the conveniences of the lower Northern Beaches. Bus services are approximately 450 metres away, while Balgowlah Village, local schools and North Harbour Reserve are within easy reach. Manly is about three kilometres from the home.
The sale underlines the scarcity premium attached to Sydney homes combining substantial land, direct beach access and uninterrupted harbour views.
Balgowlah Heights has a median house value of about $4.23 million, according to PropTrack data displayed on realestate.com.au. At more than four times that figure, the Beatty Street result sits in a different tier from the suburb’s conventional prestige market.
Its price is also $6.65 million above the $10.85 million paid for neighbouring 30 Beatty Street in December 2025.
While conventional luxury features helped support the result, the defining asset is one that cannot be readily replicated: a private rear gate opening directly onto Forty Baskets Beach.
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