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.”