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KFC, 1015 Burwood Highway, Ferntree Gully
MELBOURNE, 22 AUGUST 2013 – A Chinese investor has secured access to the Colonel’s 11 herbs and spices, purchasing KFC Ferntree Gully for $2.91 million representing a net yield of 6.9%.
Stephen Bolton and Stuart Taylor of Jones Lang LaSalle sold this conveniently located KFC at 1015 Burwood Highway, Ferntree Gully post Public Auction.
This secure investment benefits from strong rental returns due to a long initial lease term of 11 years and multiple options to 2032.
1015 Burwood Highway, Ferntree Gully occupies a land area of 1,548sqm and is situated approximately 32 kilometres from the Melbourne CBD. It forms part of the Hill View Shopping Centre which is anchored by an ALDI supermarket along with other big name retailers including Pizza Hutt, Nando’s, Duncan’s Liquor and National Pharmacy.
Exposure to major arterial multi-lane roadways provides the property with high volumes of passing traffic daily. The modern purpose built building provides all the amenities required for the current KFC format and includes both ‘dine-in’ and ‘alfresco’ style seating along with ‘drive-thru’ facility for takeaway and excellent onsite car parking.
Mr Bolton said “KFC is a globally recognised brand and the second largest fast food restaurant chain in the world which affords this property with strong annual growth and provides the purchaser with a solid, secure return on investment potentially to 2032.”
“The sharp yield achieved is considered particularly strong due to the ‘strata-titled’ nature of the property. The sale reinforces the trend of investors seeking security through long initial lease terms” Mr Taylor said.
“The successful purchaser was from mainland China indicating that buyers with capital sources from Asia are an extremely active buyer group, attracted by the security and stable growth that Australian Real Estate offers” Mr Taylor added.
Mr Bolton said “This adds to Jones Lang LaSalle’s recent string of sales including a Red Rooster, 7-Eleven and Subway store proving that this type of secure investment is still highly sought in today’s market”.
Jones Lang LaSalle also has the KFC, Wantirna for sale which likewise provides a long term investment with multiple options to 2045.
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