GCW has helped KFC make four key acquisitions as it continues with its UK expansion drive. Amidst fierce competition for sites, the team has successfully secured units in Reading, Leatherhead, Acton and Chatham, all of which will be open in time for Christmas.
KFC has traded well during the pandemic and is capitalising on the growing demand for this brand, with an aggressive acquisition strategy. In Acton, GCW has completed the acquisition of a 1,898 sq ft unit at the front of The Oaks shopping centre in the heart of the town centre. KFC will sit alongside tenants including Lidl and Wilko, paying a base rent of £60,000 per annum with a turnover top up.
The team has also secured two high street units in Leatherhead for KFC and Taco Bell. A former Preto restaurant unit has been divided into two, providing the brands with a prime position on Church Street, with pull up parking at the front. KFC and Taco Bell are paying £27,300 pax and £37,700 pax respectively. KFC has been seeking an opportunity in Leatherhead for some time and the 1,896 sq ft town centre unit is ideally placed next door to Waitrose.
KFC is also busy fitting out a 2,777 sq ft unit in Reading adjacent Costa. GCW sealed a deal for Unit 2b at Chalfont Square Retail Park on basis of a 15-year lease at a rent of £54,480 per annum. Meanwhile, in Chatham, KFC have secured a 2,150 sq ft restaurant unit with dedicated outside seating at the Chatham Maritime leisure scheme. They will open alongside GDK and Costa with the new 30,000 sq ft Ninja Warrior offer above. A 10 year lease was negotiated at an annual rent of £43,500.
GCW has acted for KFC since 2003 and is now the main agent helping acquire sites across the South of England. The four deals are the latest in a series of acquisitions which range from drive-thru to high street takeaways.
GCW Partner Simon Horner commented: “We have developed a detailed understanding of KFC’s requirements and by adopting a flexible acquisitions strategy, the brand has been successful in entering new target markets. We will keep exploiting new opportunities and help meet their target of opening a further 30 to 40 units in 2022.”