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Freestanding Red Rooster property in Strathmore hits market after 40 years


Savills Australia and New Zealand has been appointed to sell a high-performing, freestanding Red Rooster restaurant in Strathmore, 9km north of Melbourne’s CBD. This is the first time the property has been offered for sale in 40 years.

Located at 504 Pascoe Vale Road, the 4,161 square metre site features:

  • A single-tenant lease to Red Rooster
  • Two years remaining on the current lease, with a five-year option
  • Current rent of $188,360 per annum
  • Daily traffic count of 19,000 vehicles

Rick Silberman, Director of Retail Investments at Savills, said: “Red Rooster Pascoe Vale offers enormous potential to add value. We have received written expressions of interest from several major national retailers looking to co-locate and secure a restaurant and service station/carwash next to Red Rooster, which the site can easily accommodate.”

The property is expected to attract both passive investors and developers due to its:

  • Potential for further QSR/Service Station/Car Wash uses
  • Scope for future mixed-use development including residential, office, and retail
  • Low site coverage on a significant 4,161 square metre landholding
  • Corner position and favourable planning controls

Stephen Bolton, Director of Retail Investments at Savills, noted: “Red Rooster Strathmore is one of the few inner-metro fast-food investments offered to market in Victoria this year, highlighting the scarcity of this defensive and blue-chip asset class.”

The property is being offered for sale by Expressions of Interest, closing at 2 pm AEST on Wednesday, 31 July 2024.

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