Wendy's in hunt for 20 store sites in New Zealand

Jones Lang LaSalle's retail specialist team is hunting for properties for a 20-store expansion planned by fast-food chain Wendy's throughout New Zealand.

The property consultants say the timing could not be better with the way the market has moved lately.

Martin Hudson, retail director at JLL's Auckland office, said he was confident they could secure good deals.

"The property market softening we are seeing at the moment means that landlords are becoming much more realistic about lease terms and rental rates,"he said.

JLL retail specialist Chris Beasleigh said the first new Wendy's site had already been bought, near Wellington.