A high-exposure KFC outlet in the Melbourne suburb of Ringwood has been listed for sale, offering a unique combination of holding income and future flexibility for developers or owner-occupiers.
Exclusively marketed by JLL’s Dominic McGrath, Tom Noonan, and Xander Yeo, the property at 387 Maroondah Highway, Ringwood is prominently positioned on a 3991 sqm Commercial 2 Zoned (C2Z) landholding.
The site features frontage to Maroondah Highway, a major arterial with daily traffic volumes exceeding more than 40,000 vehicles, and is surrounded by high-profile car dealerships including Mercedes-Benz, Volkswagen, and Mazda.
The property is currently leased to a KFC franchisee, returning a net operating income of $168,669 per annum, with lease expiry set for 20 October 2027 and no further options.
Mr McGrath said the lease profile and site characteristics are likely to spark interest from both investors and developers.
“This is an extremely rare offering – a short-term KFC lease with no options remaining on such a high-profile site on Ringwood’s golden mile, a commercial precinct with extremely low vacancy rates,” he said.
“We expect to see strong interest from competing quick-service restaurant operators seeking to secure a flagship site in a tightly held corridor, as well as developers, and owner occupiers looking to capitalise on the significant landholding with exceptional retail frontage to Maroondah Highway.”
Located 28km east of the Melbourne CBD, Ringwood is one of 10 Major Activity Centre’s across Melbourne, and is a thriving commercial hub anchored by Eastland Shopping Centre, Costco, and Ringwood Train Station, with strong population growth and infrastructure investment underpinning long-term demand.
Mr McGrath said the zoning and rear parcel enhance its long-term potential.
“With almost 4000 square metres of land and flexible zoning, the property presents the potential for a major repositioning — whether that’s a new quick service restaurant, a new car dealership, major LFR usage or a broader mixed-use outcome, subject to council approval,” he said.
“It’s a compelling opportunity for purchasers who want to unlock value in a high-growth corridor just minutes from the Ringwood Metropolitan Activity Centre.”
The site includes 18 on-site car parks and a leased land area of approximately 1926 sqm, with internal and external dining areas and drive-through facilities.
Mr Yeo added, “With a strong resurgence of Asian Interest in recent campaigns, we anticipate strong demand from both local and offshore high net-worth Asian investors especially those who reside in the surrounding eastern suburbs.”
387 Maroondah Highway, Ringwood is offered for sale via an Expressions of Interest campaign closing Thursday 19th June at 3 pm (AEST).
