AUSTRALIAN fast food chains KRYSTAL, FLAVOUR, and FOOD KING have agreed to invest $400 million in a new Adelaide location, after being offered a new 12,000 square metre building in Victoria.
Krystal is also investing $40 million in the development of an adjacent shopping centre, with the company hoping to open within the next six months.
“The Melbourne location is our preferred option but we need to consider the viability of expanding to a wider location,” said Krystal chief executive officer Chris Taylor.
“We have also been offered an opportunity to develop the retail space in a building that is both attractive and in good condition, but we are not yet ready to make a final decision.”
Mr Taylor said the new Adelaide store would open “in a matter of weeks”, and would be “fully equipped” to cater for the increasing demand for Australian fast foods.KRYSTALLI FOOD CENTRE, MelbourneAUSTRALIAKRYTLER FOODCENTRE, SAINT KINGS, SA.AUST.
F.A.K.A.: KRYTLERS FOODMARKET KRYstal, FLavour, and Food King have agreed on a $400m investment in the redevelopment of the retail premises of their existing retail location in Adelaide.
Key points:AUSTralian food chain KRYSLA has agreed to relocate to the new KRYTAL RESTAURANT and restaurant at Adelaide’s South BankThe new site will have retail space for up to 15,000 customers and features a fully equipped food courtThe company said it expects the new building to open “very soon”Krysta is currently based in Melbourne, but Mr Taylor said there was a “strong likelihood” that the Australian restaurant chain would open a branch in the ACT’s Sunshine Coast city.
“Aussie fast food is on the rise and Melbourne is a big player in the industry,” Mr Taylor told the ABC.
“Melbourne is the biggest fast food market in Australia, and with that growing, we’re going to see more and more Australian fast chains moving to Melbourne.”
The company has been offered a lease at the site, but has not yet received any formal offer.
“Our focus is on our Australian operations and we’re happy to look to expand our presence there,” Mr Taylors statement said.
“But we will need to make the final decision on the new site as soon as possible, but there are exciting times ahead for Australian and international fast food.”
Mr Taylers plans for the new space include a food court, a “fast food-style bar”, and a full-service restaurant.
“There are a lot of exciting opportunities for our business and we look forward to the construction of the new store and the continued expansion of our Australian footprint,” Mr Cox said.
Krysstal was first established in 1989 in Melbourne and now has locations in Brisbane, Adelaide, Hobart, Sydney, and Perth.