An ideal opportunity to create value through exceptional occupier contacts; EPF acquired a vacant drive-thru site on the Edgware Road- one of London's busiest arterial roads. The site was deemed no longer suitable by fast food giant Burger King, which had owned the freehold.
EPF identified a user for the site, signed a prelet with KFC and carried out renovation programme before handing it over to the operator.
The property was recently sold at an all-time record investment yield.
Investment rationale and Asset management:
Purchase of vacant property with opportunity to create value:
- Purchase price reflecting vacant value.
- Exceptional long-term development opportunity.
- Immediate uplift in value on letting to KFC.
- Excellent location- one of London's busiest, best known roads.
- New 20-year lease to KFC, creating very strong income stream.