A Melbourne-based private investor has snapped up an existing KFC restaurant site in Tamworth for $4.47 million, reflecting a yield of 5.1 per cent.
CBRE's Aaron Arias, Nick Willis and Justin Dowers negotiated the sale of the 413 New England Highway property on behalf of a private investor.
The property is leased to QSR, the largest franchisee of KFC restaurants in NSW, on a new 13-year lease with options until 2038.
Tamworth Business Chamber president Jye Segboer said the sale proved regional investment was stronger than ever.
“Also on the back of the sale of Centrepoint, it’s certainly showing a good strength in the region and people’s confidence in Tamworth,” Mr Segboer said.
“Generally in regional areas, there is a stronger return in investment.
“It’s generally between seven and nine per cent return (in regional areas), whereas investment in city locations is between five and six per cent.”
- CAROLYN CUMMINS, ELLA SMITH