A brand-new KFC in Manukau in South Auckland is being presented to the market for sale and provides buyers with the opportunity to acquire a premium property that has all of the key fundamentals passive investors are searching for.
Located at 167 and 171 Cavendish Drive, Manukau, the property has 204sq m of total net lettable building area on a 1,650sq m site. The freehold property is held in two separate titles.
Restaurant Brands New Zealand Limited, trading as KFC, has a 12-year lease at the location, which began in March and returns $220,000 plus GST in net annual rental income. There are multiple renewals available leading to a final expiry of 26 March 2055.
The lease agreement includes fixed annual increases of 2.5 per cent and market reviews on renewal dates.
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Restaurant Brands is an NZX-listed company and one of the country’s leading quick-service restaurant operators. It holds the exclusive rights to operate and franchise four globally recognised brands – KFC, Pizza Hut, Taco Bell, and Carl’s Jr. – across New Zealand, Australia, Hawaii, and California. The business manages more than 520 stores and employs over 12,000 staff across its markets.
Colliers Brokers Shoneet Chand, Ryan Gibb, and Josh Coburn have been exclusively appointed to market the property for sale via auction to be held at Colliers, Level 23, 188 Quay Street, Auckland at 11am on Tuesday 19 August, unless sold prior.
The subject property has dedicated on-site parking, a drive-thru, and in-store dining, meaning it is equipped to meet customer demands.
It benefits from a top-tier fit-out and Restaurant Brands continues to invest in its in-store experience through digital ordering tools.
Chand, Director of Investment Sales at Colliers, says having an anchor tenant that is part of an NZX-listed firm will provide confidence to buyers and this is an investment that is hard to fault given it has so many positive factors.
“Restaurant Brands reported total sales of $1.39 billion in the year ending 31 December 2024, which was a 5 per cent jump on the previous year, indicating the ongoing popularity of the brands they operate,” Chand says.
“With a long-term lease in place and built-in rental growth over time, this is an outstanding opportunity that will serve as a low-maintenance asset for the new owner. This is the type of first-rate investment that buyers are constantly seeking but can rarely find.”
Gibb, Investment Sales Broker at Colliers, says the KFC brand generates global recognition and it is still one of the top three chicken chains in the United States.
“Known for its signature fried chicken and 11 herbs and spices, KFC now operates in more than 145 countries and territories around the world, underscoring its status as one of the world’s most well-known food outlets,” Gibb says.
“KFC’s footprint across New Zealand includes over 100 stores nationwide, with strong performance in both urban and regional areas.”
Coburn, Director of Capital Markets and Site Sales at Colliers, says the property benefits from its high-profile location that generates excellent levels of visibility to passing traffic.
“Cavendish Drive is a dominant arterial route in one of South Auckland’s prime commercial areas and this highly accessible property is perfectly positioned to meet the ongoing demand for quick-service restaurants in the area,” Coburn says.
“This is an enticing investment opportunity that warrants serious consideration among discerning buyers.”
- Supplied by Colliers
