7-Eleven’s $7 million sale in highly competitive market

9 July 2024

High performing Bellmere service centre transacts for $7,400,000

Brisbane, 9th July – A Melbourne investor has snapped up a 100 per cent interest in a high- performing service centre anchored by 7-Eleven in Bellmere for $7,400,000, with significant buyer interest in securing a long-term lease with one of the world’s largest convenience retailers.

Transacted through an expressions of interest process by Colliers Queensland agents Hunter Higgins and Sam Polichronis on behalf of a valued private client, the 4,518 sqm service centre is located at 84 Bellmere Road, Bellmere.

Offering a diversified income stream with four specialty tenants additional to 7-Eleven including Champion Liquor, Bellmere Vet, The Dental Club and Re/Max, this was a rare opportunity to market.

Colliers Queensland National Director Investment Services Hunter Higgins said with about 90 enquiries and five solid offers this deal demonstrated strong investor interest in service assets.

“The service station market in SEQ remains competitive for quality product, the major drawcard for this deal was a 15-year corporate lease to the world’s largest convenience retailer and one of

Australia’s largest fuel operators, 7-Eleven,” Hunter Higgins said.

“Service stations have captured the interest of various investors, ranging from small private investors seeking stable long-term income to large institutions looking to expand their portfolio.

“The fully leased centre with a strong 7.41 year WALE, neighbours a national childcare operator and brand new Woolworths Shopping Centre.

“The asset is situated on a prime corner position west of the strong growth corridor of Caboolture, which will see the delivery of a multi-stage residential development to accommodate over 70,000 residents and 30,000 homes over the next 40 years,” Hunter Higgins added.

Colliers Queensland Executive Investment Services Sam Polichronis said service stations are viewed as attractive investment opportunities, offering potentially lower initial investment requirements.

“Despite general concern regarding the future of service stations due to alternatives becoming desirable, the overall growth of the sector has grown significantly with projections estimating further growth in the coming years,” Sam Polichronis said.

“7-Eleven has remained ahead of the curve, as a global leader in convenience retail, taking advantage of the growth of non-fuel products and other services.

“Bellmere Service Centre, which opened in 2019, has a diverse mix of secure tenants located in the major growth hub of Caboolture with dual street frontage to both River Drive and Bellmere Road, which are connected to main arterial roads King Street and Morayfield Road.

“Offering essential services, assets like these play a crucial role in daily life and are more resilient to economic conditions, making them a less risky investment with a reliable income source and capital growth potential, making them a popular choice among investors,” Sam Polichronis added.