A piece of Queensland fast-food history has sold at auction for $3.8 million.
The state’s first KFC outlet opened at Kedron in 1969 as Kentucky Fried Chicken. Nowadays, more than 75,000 vehicles a day pass the Gympie Road site, according to Ray White Commercial Queensland director of sales John Dwyer.
Mr Dwyer sold the purpose-built property to a local investor on behalf of a private owner for a yield of 4.85 per cent.
“Bidding at what was a compelling auction conducted by Queensland’s chief auctioneer Philip Parker started at $2 million and there were more than 40 separate bids,” Mr Dwyer said.