This article is from the Australian Property Journal archive
AMERICAN fast-food chain Carl’s Jr is looking to open 200 restaurants over the next decade across Australia after striking a new master franchise agreement.
Its parent company CKE Restaurants Holdings agreed for CJ’s QSR (Franchise) Group to oversee its expansion, including 27 new outlets in the next year.
Carl’s Jr, known for its chargrilled burgers, was introduced to Australia in 2016 with a Bateau Bay site in New South Wales. Its network has grown to 30 stores in NSW, Victoria, Queensland and South Australia under the watch of separate franchise agreements with four different businesses.
CJ’s QSR will add to its 11 corporate sites in Victoria, and a site in Sydney’s Wetherill Park.
The Bansal Group operates 10 outlets in Queensland on a non-exclusive basis, and Ostaford Pty Ltd operates two restaurants on the NSW Central Coast.
The Agostino Group exclusively operates the three South Australian stores.
CJ’s QSR is on the lookout for new franchisees in all states and territories except South Australia and the Northern Territory, which The Agostino Group will retain exclusivity to.
Fast food outlets are proving popular with investors at present. A Carl’s Jr outlet in Rockhampton City sold for $3,650,000 at a yield of 4.49% at a recent Burgess Rawson auction in Melbourne, which saw a KFC outlet in Berrinba with a 10-year lease to Collins Foods sell at a 3.35% return – the sharpest of the day out of $115 million worth of sales.
A KFC outlet took the same title at the previous day’s Sydney edition of the auction series. The Forster sold on an incredibly tight 2.93% yield, with a sale price of $2.83 million.
