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.
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.
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.”
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.