KFC store sells at record low yield

KFC store sells at record low yield
KFC store sells at record low yield

Fast food retail investor Chris Retzos has sold his KFC restaurant in Altona North for $5 million to Asian investors on a record low yield of 3.7 percent.

Bidding for the KFC opened at $3.5 million with four bidders competing for the takeaway premises.

The hammer price at the Burgess Rawson auction bettered the previous $4.14 million record sale of a Melbourne KFC in May this year on a 4.8 percent yield.

The Retzos Group operates more than 40 KFC restaurants in Australia.

It will lease back the Altona North KFC on a new 10-year lease. 

The buyer was a Melbourne-based group of Asian investors, who own other fast-food investments.

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Restaurant Altona North

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