KFC signs five year lease for spot in St Kilda’s Acland Street
The Colonel is coming to Melbourne’s bayside St Kilda.
KFC has leased a 90 square metre retail space at the corner of Acland and Carlisle streets, and The Esplanade, opposite another fast food chain, McDonalds.
KFC is paying starting annual rent of $80,000 for the outlet on the ground level of a near-new apartment building at 70A Acland Street.
The five year lease with a five year option was negotiated by Fitzroys executive James Spencer on behalf of a private investor.
“KFC wanted to capitalise on being in a prime location opposite Luna Park and McDonald’s, the new Palais Theatre, close to St Kilda beach and at the top of the popular retail and nightlife precinct,” Mr Spencer said.
“The recent conversion of Acland Street into Melbourne’s newest pedestrian mall made this property a sought-after prospect. It has enhanced the vibrancy of the strip, which remains a popular tourist destination for interstate and overseas travellers, as well as Melburnians”.
KFC is currently undertaking a fit-out of the space, expected to be open for trade by summer.
