A fantastic opportunity for an investor to purchase a quality tenanted asset with a long secure lease and fixed annual rental growth.
PERTH, 16 July 2024 – A newly built petrol station and convenience store situated in Western Australia’s Southwest is expected to attract strong amounts of interest from local, national, and international buying groups when it formally hits the market this week.
Located at 8D Picton Road, the East Bunbury 7-Eleven possesses a strong tenant covenant, long secure lease, fixed annual rental growth and significant depreciation benefits.
This represents the first non Metropolitan service station to go to market since March 2023. The property is leased to global tenant 7-Eleven and boasts a 12-year lease with fixed annual rental increases.
Colliers State Chief Executive, Richard Cash and Executive of Investment Services, Aidan Austen have been exclusively appointed to sell the property.
Mr Cash said “Based on demand for recent petrol station and convenience store marketing campaigns, we are expecting buyers to see value in this opportunity given its prime location in Bunbury, in the fast-growing southwest region of Western Australia.”
Mr Austen said “7-Eleven East Bunbury offers Western Australia’s first regional Service Station opportunity in over 12 months since Liberty in Dalyellup sold. Offering a long-term secure lease to global blue chip quality tenant and with certainty regarding interest rates having changed we expect this fantastic opportunity to reset the tone for regional service station assets.”
The property is offered for sale via ‘Expressions of Interest” closing Thursday 15th August 2024 at 3:00pm (AWST) and launched to market this week.
Related Articles
