Regional KFC a major meal deal
A rare KFC restaurant in regional NSW has sold under the hammer for $2.835 million, providing the buyer with a tasty investment.
The property at 139-145 Maitland St in the town of Muswellbrook is on a 2024sqm block of land and has the latest format KFC store with drive-through and a large carpark.
With exposure from the New England Highway and in a busy location adjoining a BP Service Station, the site was always expected to be popular.
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The restaurant is in a very desirable location. Pic: Supplied
There is currently a secure 15-year lease to 2025 with an option to extend until 2040, while it provides a net income of $142,331 plus GST.
Selling agent Rhys Parker of Burgess Rawson says the high-profile asset attracted a number of bids on auction day.
“There was significant interest at the auction as local and interstate investors were eager to snap up a piece of Muswellbrook,” he says.
It has a net income of $142,331 plus GST. Pic: Supplied.
“These properties are tightly held and when they do come up there are certainly a lot of people waiting to buy them.”
The new buyers will also benefit from guaranteed rental growth, with an agreement in place for a fixed 4% annual increase in rent.
This article from The Daily Telegraph originally appeared as “KFC restaurant in Muswellbrook sells at auction for $2.835 million”.
