Could an investor buy a McDonald’s, KFC and a servo in one fell swoop?
A tasty piece of property in Northmead is up for grabs for the first time.
About 20 years after it was built, the prominent KFC at 100 Briens Rd is being offered as a prime investment opportunity with price expectations of more than $6 million.
While it will be a standalone sale, its neighbouring sites, which include the busy Pancakes on the Rocks, a Thai restaurant and a combined McDonald’s, Shell service station and Coles convenience store, are also scheduled for auction later this month.
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Listing agents Michael Gilbert and Rhys Parker from Burgess Rawson says the sites have been held by only one family and are being sold on behalf of the owner, who recently died.
“This is a really busy location and it is rare to have this kind of an opportunity,” Gilbert says.
“Fast food outlets are probably the most sought-after asset class in real estate right now … people always want to enjoy different dining experiences,” he says.
The KFC is set on a corner 2155sqm lot and brings in an annual net income of more than $228,000.
Each of the four businesses have leases in place until at least 2022, with options to extend.
The McDonald’s site spans 3293sqm and has a net income of $732,346. It will be Sydney’s first to sell in five years. The last to be snapped up was in Prestons, in Liverpool, and it went for $6.45 million.
The agents says they expected this to “set a new benchmark” for the city.
Only 48 hours after the commercial property went live on , it had been viewed more than 12,000 times.
Gilbert says it is their strongest response to a listing, and potential buyers were a mix of local, interstate and overseas investors.
“We are getting significant interest from Asian investors; With this sort of a premium grade asset they know what they are looking for — and they have the cash to buy it,” he says.
The property backs onto the new Bunnings, in the old Masters building, which will open next month.
The Briens Rd site, along the Cumberland Highway, will go under the hammer on Tuesday, July 21.
This article from the Parramatta Advertiser originally appeared as “KFC, McDonald’s and Pancakes on the Rocks stores all for sale”.