A new KFC in Mount Barker has been snapped up in a quick and quiet deal worth more than $6m.
The $6.1m off-market sale of the venue at 27 Heysen Boulevard, which is leased to the fast food giant, was signed and settled within 24 hours.
CBRE agents Rhyce Scott and Ingrid Filmer facilitated the sale – which was able to be cemented so quickly because of an established relationship with the seller, Accord Property, and access to a network of buyers.
Mr Scott said properties with long-term national tenants in rapidly growing areas offered investors a secure income stream.
“Mount Barker is one of South Australia’s fastest-growing areas, with the population forecast to grow from 44,775 to nearly 65,000 by 2046,” he said.
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A Mount Barker KFC has sold for more than $6m in a deal that was signed and settled within 24 hours. Picture: KFC.
“We’re seeing over 500 new homes built annually, and the government has committed more than $450 million to infrastructure including a new hospital redevelopment, schools and leisure facilities.”
The property is leased to American-based fast food company Yum! Brands – which includes KFC, Pizza Hut and Taco Bell – for 20 years and generates $235,000 a year.
Ms Filmer said the 20-year commitment and 3.85 per cent yield showed strong investor confidence in both the property and location, especially given a two-decade lease term was rare in Australia.
The sale was just short of the WA record price for a fast food site, which was set at the end of last year when a Golden Bay KFC sold for $6.3m.
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Another KFC restaurant in Kadina has hit the market.
It comes as another KFC restaurant in Kadina, also owned by Accord Property, hits the market.
Construction of the property on a 1414sqm corner site at 12 Frances Tce was finished in November, and it already has a new 15-year lease to 2040.
CBRE’s Adam Thomas, who is selling the site with Rhyce Scott, said fast food investments continued to attract strong buyer interest.
“We sold almost $200 million in fast food over 2025 with sub 3 per cent yields achieved,” he said.
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