A brand-new KFC in Springvale has been snapped up for $4.8 million, reflecting a sharp 4.19% yield.

The sale, brokered by Burgess Rawson’s Matthew Wright, Zomart He, Justin Kramersh, and Beau Coulter, was secured by a private investor at Investment Portfolio Auction 174.

Located at 98-106 Westall Road, the high-profile asset attracted significant interest due to its long-term lease to KFC, one of Australia’s most recognisable fast-food brands. With a 10-year lease extending to 2034 and options to 2064, the property offers strong security under the Southern Restaurants Group, the nation’s largest private KFC franchise operator.

Burgess Rawson Partner Matthew Wright highlighted the competitive demand for premium fast-food investments. “This sale underscores the strength of the quick-service restaurant sector and the continued appetite for high-quality, long-leased assets. The combination of a market-leading brand, a strategic location, and a highly desirable net lease structure made this an exceptional investment opportunity,” he said.

Positioned on a prominent corner with dual-lane drive-thru facilities, the property benefits from significant exposure to 58,000 vehicles daily. Springvale’s rapid population growth and the City of Greater Dandenong’s expanding economy further cement the asset’s long-term investment appeal.

The sale reflects investor confidence in well-located, blue-chip retail properties, reinforcing the resilience of the fast-food sector in the commercial property market.

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