PHOTO: SUPPLIED – KFC has rights to lease its Porirua building until 2035.
The land and building home to KFC in Porirua, north of Wellington has new owners following an “absolutely crazy” auction.
The property, which was being sold as part of a investment rejig by its original owners, was bought by a local investor for $2.75 million, well above its rateable value of $1.57m.
Bayleys Wellington agent Mark Sherlock said it was the biggest auction he had been involved in. There were 168 bids. An average auction generates between 30 and 50 bids.
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