Located at 5 Muir Street, roughly 25 kilometres north of Newcastle, the 2,593sqm property features two standalone buildings constructed in 2023 with 38 shared parking spaces.
The property provides a hands-off income stream secured by long-term leases running past 2033, averaging an 8.2-year remaining tenure.
Both businesses operate under net leases, meaning operating costs, including land tax, are fully covered by the tenants.
Ray White Retail Managing Director Lachlan O'Keeffe said the property suits buyers who want long leases without the day-to-day involvement of a multi-tenant centre.
"You don't often get an asset with just two tenants where both covenants are this strong,” Mr O’Keeffe said.
“KFC and Smile On are about as sought-after as tenants get in this sector, and with leases running past 2033, buyers can just let the income keep coming in the door without lifting a finger.”
Positioned in Medowie's main business district, the site draws steady daily traffic from neighboring operators, including McDonald’s, Woolworths, Coles, and a nearby childcare centre.
RWC Retail partner and head of VIC Rick Silberman said the growth underway in Medowie was a factor buyers would weigh up alongside the leases themselves.
"You're getting consistent daily traffic coming to this drive-through and dentist from McDonald's, Woolworths and a childcare centre,” Mr Silberman said.
“Then you add a suburb growing almost 50 per cent by 2040, and a new $96 million high school a kilometre up the road, and the demand for these brands is only going to keep getting stronger.”
5 Muir Street is for sale by expressions of interest, closing Tuesday 29th September 2026 at 2pm (AEST).
