A key Ellenbrook, WA convenience retail asset has sold to a NSW-based private investor for $6.032 million on a sharp yield of 5.96 per cent – the tightest recorded since 2017.
The sale of the 7-Eleven at the corner of Main Street and Pinaster Parade, WA 6069, was facilitated by Beau Coulter and Jamie Perlinger from Burgess Rawson from CBRE, working in conjunction with Rob Selid from Burgess Rawson WA.
Mr Coulter said the property attracted 11 formal offers from investors across Australia and received 169 individual enquiries, highlighting the strong national appetite for premium WA leased assets.
The property is anchored by a brand-new 12-year lease to 7-Eleven, commencing in 2025 with options extending to 2057, providing a secure income stream of approximately $360,000 per annum plus GST.
Sitting on 2,796 square metres of land with a 248 square metre building footprint, the property includes 12 on-title car spaces, including a disabled bay.
The net lease structure means the tenant responsible for outgoings including land tax and building insurance, and annual CPI rent reviews are included.
Mr Coulter said the sale represented the sharpest yield for a WA 7-Eleven since 2017.
“The final yield of 5.96% is the sharpest yield achieved in WA for a freestanding, single-tenanted 7-Eleven since 2017, further highlighting current investor demand for premium leased investments in WA.”
Mr Coulter said convenience retail continues to attract strong demand from investors due to the combination of essential services, long leases, and nationally recognised tenants.
“Assets like 7-Eleven are underpinned by high-traffic locations and resilient trading performance, which gives investors confidence in both the income security and long-term growth potential,” he said.
Mr Perlinger said the property’s location on a high-traffic roundabout directly opposite Ellenbrook Secondary College, coupled with proximity to Ellenbrook Shopping Centre, ensures strong exposure and foot traffic in a rapidly growing suburb.
“The area’s demographic outlook is positive, with the City of Swan’s population projected to grow over 68% to nearly 299,000 by 2051, supporting long-term growth prospects for the asset. The property also offers significant tax depreciation benefits, making it an attractive investment.”
Related Articles
