July 23 2024 21:16
Picture supplied by Cape Argus
The McDonald’s in Green Point, Cape Town has recently renewed their lease at a rental of R420 000 per month. This 24 hour McDonald’s drive-thru site has a lease agreement with the City of Cape Town.
This is according to Ashleigh Meyers, the owner of AskAsh. She is a Cape Town based and well-respected broker.
The property lease went on auction with a tight bidding war between McDonald’s and KFC. Both brands took part at the auction in an attempt to secure this location near the DHL Stadium. This stadium seats 55 000 people and will host the Springboks vs New Zealand rugby testmatch in September this year.
McDonald’s won the auction. Their closing bid was R420 000 per month – which is the new monthly rental that they will be paying to keep their site. McDonalds is the largest owner of real estate in the world.
247@propertyflash.co.za
