Happy meal: Investor buys McDonald’s, KFC and servo
Four major commercial sites in Northmead expected to sell individually have just one new owner after a finger lickin’ good sale.
The hugely popular KFC at 100 Briens Rd was set to go under the hammer yesterday along with the adjoining McDonald’s, Pancakes on the Rocks and Thai restaurant properties, but was snapped up on Monday by an eager buyer.
Burgess Rawson’s Michael Gilbert confirmed all four sites were purchased “in one line” and for an undisclosed amount.
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“Interest was in the hundreds on all four opportunities. The vendors are happy but we have a lot of disappointed buyers,” Gilbert told the Parramatta Advertiser.
The Northmead properties.
Despite the sale price being withheld, the investment sites are believed to have fetched record figures for the major food chains.
Prior to auction, the KFC was expected to go for more than $6 million. It is on a corner 2155sqm lot and earns an annual net income of more than $228,000.
This was Sydney’s first McDonald’s to sell in the past five years, following the sale of the Prestons restaurant, which went for $6.45 million.
An aerial photo of the prominent Northmead corner block.
This article from the Parramatta Advertiser originally appeared as “KFC Northmead snapped up prior to auction in mega sale”.
