“This result highlights the positivity we have seen in the South Australian commercial property sector over the past 18 months,” Mr Einarson said.
“With stamp duty concessions attracting interstate investors and a steady flow of positive economic stories, it looks like we are set for a big year in 2019.”
Mr Curnow added that the successful purchaser was drawn to the strength of the brand as well as the underlying long-term development potential.
“We hadn’t seen a fast food asset hit the market since the Marden KFC in 2015 and this was a big selling point for the purchaser,” Mr Curnow said.
“The lucky investor understood the long-term value of the location and the recent rezoning, allowing them to pay such a sharp yield.”
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