Renewed 10 Year Ground Lease to 2034 | Proven KFC Store, On-Site 19+ Years
44-48 Graham Street, Wonthaggi VIC
Property Highlights
Description
Burgess Rawson is pleased to offer to the market KFC, 44-48 Graham Street (Bass Highway), Wonthaggi VIC for sale via our Investment Portfolio Auction 168.
This investment has the following key highlights:
+ Renewed 10 + 10 + 10 year ground lease from August 2024 through to December 2054.
+ Proven KFC restaurant with tenant on-site 19+ years.
+ Southern Restaurants: Australia’s largest private KFC franchise group with 6,000+ employees across 94 locations in VIC, NSW & ACT. (1)
+ Highly sought after ground lease structure – tenant responsible for all capital and structural repairs and maintenance.
+ Investor preferred net lease terms with tenant paying all usual outgoings including building insurance.
+ Fixed 3% annual rent increases assuring income growth.
+ Impressive KFC restaurant with major 2024 store refurbishment planned.
+ Strategic 2,330sqm* ‘corner island site’ with 193m* quadruple frontage and important 20 on-title car spaces.
+ Site includes 663sqm* of surplus land providing immediate development upside (STCA).
+ High profile Bass Highway corner landholding with exposure to 18,995+ vehicles passing daily. (2)
+ Potential 50% stamp duty saving.
+ Wonthaggi: capital township of Bass Coast shire, with a trade catchment of circa 20,000 (plus season holiday influx).
+ Net Income: $125,620pa* + GST (as at 5 August 2024).
For Sale by Investment Portfolio Auction
10:30am AEST Wednesday 15 May 2024
Yallamundi Rooms, Sydney Opera House
*Approx
1. LinkedIn
2. GapMaps
Property Details