Bowen KFC and Metro Petroleum site is up for sale
A popular fried chicken and fuel duo, that brought buckets up and fuel prices down, in the seaside town is up for sale but only at the right price. DETAILS
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A popular Bowen asset that brought chicken buckets up and fuel prices down in the seaside town is on the market, but a developer said residents can rest assured there is no closure on the horizon for a fast food chain that had been long-awaited.
The Bowen KFC and Metro Petroleum site is owned by Brisbane Prestige Property Developments and is located in a strategic position at the corner of Leichhardt St and Livingstone St.
BPPD developer John Samios said the company was looking at selling the property because they needed some cash flow for new projects, not because the businesses were not successful enough.
Mr Samios said the company would sell only if they could get their asking price, circa $6m.
“It’s a fantastic asset,” Mr Samios said adding they had received some offers but had not accepted any yet.
“I won’t sell a site for less than what it’s worth, because at the end of the day you can’t replace that site, because land costs have gone up, construction costs have gone up.
“It’s impossible to rebuild that site for what I build it for.”
Both stores are assets to the Bowen community, with the Metro Petroleum offering lower prices for fuel, while the KFC had finally opened in town last year after a lot of Bowen residents had petitioned for it.
The 3048 sqm KFC and Metro Petroleum in Bowen is listed by Stonebridge National Investment Sales for sale, and would offer new owners with two tenants that have just extended their lease until 2032, assuring that both businesses would keep operating.
Mr Samios said the company was looking at selling the site to get some cash flow in, to invest in land assets in Bundaberg and in Mackay, but if the company was not able to sell for the right price, they would just keep operations as is.
“It’s a very good location. KFC are very happy with the figures, it’s above average,” Mr Samios said.
“Metro has successfully brought the average price per litre down, which is exactly what we’re trying to achieve,”
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