A new £2.5m drive-thru and fast food development in Worcestershire has opened – and is trading strongly.
The development of a new Costa and KFC at Twyford Services, Evesham has been delivered by Ziran Land Limited for Portway Investments Limited.
The Costa unit comprises a 1,800 sq ft drive-thru while the KFC is a 2,476 sq ft unit. Both outlets, which recently opened to the public, are let on long leases with index-linked rent reviews.
The development is part of Portway Investments’ strategy of complementing its existing portfolio with secure long-term income from household names.
The success of the development shows the strength of both the alternative occupational and investment markets and it is the most recently completed road-side development by Ziran Land, which has several similar projects in the pipeline.
David Allen, of Holt Commercial, who acted on behalf of Portway, said: “We were delighted to secure this prime, highly-visible investment on behalf of our client at a competitive yield.
“This further underlines the strength of the alternative sector with the attractiveness of long index-linked leases to secure covenants. It is certainly an area of the market that has grown and that looks set to continue.”