Australia’s first KFC site in Western Sydney up for sale
The site of Australia’s first KFC in Sydney is up for sale.
The Sydney site where Aussies were first introduced to the ‘finger licking’ goodness of KFC is up for sale.
The Western Sydney service centre, at 272-274 Woodville Rd in Guildford, was home to the nation’s first Kentucky Fried Chicken (KFC) store which opened in 1968.
It had a staff of 25 and was opened by Canadian Bob Lapointe just four years after KFC’s founder Colonel Harland David Sanders sold the company to a group of investors for $2m.
However Colonel Sanders, who started the chain by serving southern fried chicken to the people of Kentucky in the 1930s, has remained the face of the brand ever since and even after his death in 1980.
Australia’s first Kentucky Fried Chicken at 274 Woodville Rd in Guildford.
Kentucky Fried Chicken founder Colonel Sanders on a visit to Sydney in 1976. Picture: Gary Graham.
Colonel Sanders has remained the iconic face of KFC.
MORE
Why hotel CEO laughs at Jamie Durie
‘Electrifying’: Western Sydney property sells $3.5m over reserve
The Guildford service centre was home to the popular KFC restaurant and Pizza Hut before the current owners bought the property in 2009 and developed it into a service centre.
It no longer houses KFC but has an Oporto drive-through, Cheesecake Shop, Piccolo Me Café, and a kebab shop alongside the 7-Eleven service station which provides 24-hour trading, seven days a week.
The property is being marketed by Ray White Commercial Western Sydney agents Joseph Assaf, Peter Vines and Victor Sheu.
The site on Woodville Rd, Guildford last sold for $2.5m before it was turned into a service centre.
The service centre is at 272-274 Woodville Rd in Guildford.
“The site is strategically located in one of Western Sydney’s pivotal locations with more than 50,000 vehicles passing daily, with great connectivity to major arterial roads,” Mr Assaf said.
“It is situated in a high growth precinct with a high population increase forecast for the area.
“The property is anchored by a 7-Eleven petrol station, which has more than 700 locations nationally.
“The centre has a diverse and established tenancy mix providing secure income streams with a net passing income of more than $673,000 per annum.”
Ray White head of research Vanessa Rader said service stations continued to be an asset of choice for astute investors.
“After reaching a new high in sales volume in 2022 of $1.07 billion, service station investment has taken a hit in 2023 recording just $154.4 million in the first half of the 2023,” she said.
There is no longer a KFC at the site but it has Oporto, 7-Eleven and a Cheesecake Shop.
MORE
Claudia Karvan’s epic investment fail
Ricki-lee’s next move after listing beachside home
“While 2022 started off strongly, it was quick to slow down during the second half of the year, with interest rate increases dampening investment demand.
“Despite this, volumes were still 47 per cent higher than the previous peak investment year in 2019, which recorded $730.4 million, highlighting the significant growth in attractiveness of service stations as an asset class.
“Looking ahead, the uncertainty surrounding future increases on interest rates has put a dampener on investors’ appetite to move quickly on investment opportunities.
“For many buyers, capitalisation rates need to show further increase to spur on investment decisions, however, we expect to see limited assets come to market as owners continue to hold and reap the rewards of their stable income stream.”
