Savills have been mandated by Herbert Property Group to dispose of ‘Project Spice”, an opportunity to acquire a portfolio of KFC restaurants located throughout Ireland.
With a combined guide price in excess of €4.275m, the portfolio will reflect a NIY of 7.5% at entry which steps up by 100 bps to 8.5% when fixed uplifts come into effect in November 2026.
The subject properties being made available for sale in the portfolio include:
• KFC Bundoran, Co. Donegal
• KFC Clondlakin, Dublin 22
• KFC Drogheda Retail Park, Co. Louth
• KFC Letterkenny, Co. Donegal
• KFC Newbridge, Co. Kildare
• KFC Wexford Retail Park, Co. Wexford
The Vendors preferred method of sale is by way of online auction (unless sold prior). The transaction process for Project Spice is being manged by Offr’s technology and its implementation partner Elinx.
Brendan Delaney of Savills commented:
“Given the strength of covenant and long secure income with fixed uplifts on offer, we expect this opportunity will generate strong interest, particularly from private and non-property related investors. The subject assets represent a low-risk investment with guaranteed upside in the short term and should an investor acquire the portfolio it will equate to a holding of nearly 20% of the total KFC network in Ireland.”