84-90 Princes Drive, Morwell, VIC 3840 sold on 08 October 2026 | OnTheHouse
 
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Sold on 08 Oct 2026 - Price Unavailable

84-90 Princes Drive
Morwell VIC 3840

Bedrooms: -
Bathrooms: -
Car spaces: -
Floor area: 313m2
Land area: 2525m2
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Property Details for 84-90 Princes Dr, Morwell

Building Type
Commercial
Floor Size
313m2
Land Size
2525m2

Last Listing description (October 2026)

Ray White Retail is pleased to present 84-90 Princes Drive, Morwell VIC for sale by Auction on Wednesday 14 October at 10:45am (AEDT) at Level 28, 35 Collins Street, Melbourne.

| WHAT |
• Single-tenanted KFC drive-through investment

• Securely leased to Southern Restaurants Group, Australia's largest privately owned KFC franchisee group
• Rare ground lease structure, providing an exceptionally low-management investment
• Current rent below prevailing market levels.
• Forthcoming market rent review in June 2027 providing an immediate opportunity to unlock rental growth
• Net Income of $72,480 + GST p.a.

| WHERE |
• High-profile 2,525 sqm corner landholding* with extensive exposure across three street frontages
• Highly flexible Commercial 2 Zone (C2Z)
• Generous on-site parking for 41 vehicles
• Strategically positioned within Morwell's major retail and commercial activity precinct, generating strong and consistent daily traffic
• Adjacent to the Mid Valley Shopping Centre precinct, a key retail destination servicing Morwell and the broader Latrobe Valley
• Approximately 150km east of Melbourne*, within the major regional centre of Latrobe City

| WHY |
• KFC has occupied the site for more than 20 years, demonstrating proven and established trading history
• Long-term lease structure incorporating 6 x 5-year options extending through to 2057
• Tenant responsible for all usual property outgoings including building maintenance, providing a genuine set-and-forget investment
• Highly sought-after standalone fast-food investment combining a globally recognised brand, established trading location and significant future income upside

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Property History for 84-90 Princes Dr, Morwell, VIC 3840

A timeline of how this property has performed in the market
Last Sold
08 Oct 2026
  • 08 Oct 2026
    Sold
  • 14 Sep 2026
    Listed for Sale Auction 14 October at 10:45am (AEDT)
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About Morwell 3840

The size of Morwell is approximately 44.9 square kilometres. There are 31 parks, covering nearly 5.9% of the total area. The population of Morwell in 2016 was 13771 people. By 2021 the population was 14389 showing a population growth of 4.5% in the area during that time. The predominant age group in Morwell is 60-69 years. Households in Morwell are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Morwell work in a labourer occupation.In 2021, 62.00% of the homes in Morwell were owner-occupied compared with 61.70% in 2016.

Morwell has 9,489 properties. Over the last 5 years, Houses in Morwell have seen a 70.60% increase in median value, while Units have seen a 62.94% increase. As at 31 August 2026:

  • The median value for Houses in Morwell is $449,621 while the median value for Units is $363,863.
  • Houses have a median rent of $420 while Units have a median rent of $330.
There are currently 79 properties listed for sale, and 36 properties listed for rent in Morwell on OnTheHouse. According to Cotality's data, 621 properties were sold in the past 12 months in Morwell.

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Rick Silberman
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RWC Retail (VIC)
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© Copyright 2026. RP Data Pty Ltd trading as Cotality (Cotality). All rights reserved. No reproduction, distribution, or transmission of the copyrighted materials is permitted. The information is deemed reliable but not guaranteed.

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