The freehold for the KFC property in Westwood Road, Broadstairs, is due to go under the hammer with Allsop auctioneers next week.
The drive-thru and restaurant site is listed with a freehold guide price of £1.7M – £1.9M
The venue is part of the Caskade Group which has been established since 1984 and has a KFC franchise with 55 stores, Taco Bell franchise with 52 stores and 3 Pizza Hut franchise in the UK. Lease arrangements are for 20 years from completion. Rent paid is currently £120,000pa with a five yearly review.
The property freehold, described as a ‘modern freehold drive thru investment,’ will go to auction online on September 19.
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The freehold for the KFC site in Ramsgate is also being auctioned by Allsop on the same day. The guide price is £625k-£675k. The venue is also majority let to Caskade Caterers Limited at a £45,000pa rent with the upper floor vacant.
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A ‘virtual freehold’ investment for the Margate branch is on offer for a guide price of £660k-£650k. The auction details say the tenure is for leasehold with a “lease for 999 years from 25 December 2003 at a current ground rent of a peppercorn rate per annum.”
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The recently built KFC drive thru at Sandwich also has the freehold up for grabs with a guide price of £1.55m-£1.65m while the freehold for a Folkestone branch is being offered for £550k-£575k.
The lease holder (Caskade/ KFC franchise) is expected to remain in place at all sites.
