Stonebridge Property Group has transacted 7-Eleven & Starbucks Northgate investments in Brisbane for a combined $10,200,000, reflecting a blended yield of 5.50%.
The campaigns generated 276 enquiries, underscoring the depth of private investor demand for newly constructed metropolitan retail assets underpinned by global tenant covenants.
Completed in 2023 by leading Brisbane-based developer Deluca, the purpose-built assets occupy prominent freehold landholdings along Toombul Road, approximately nine kilometres north of the Brisbane CBD, with exposure to more than 40,000 vehicles daily.
Both the 7-Eleven and adjoining Starbucks are secured by 12-year net leases to 2035, with options extending to 2055 and fixed 3% annual rent increases.
Stonebridge Partner, Tom Moreland, commented, “The strength of enquiry across both campaigns confirms the strong appetite for newly constructed convenience and fast food investments in established metropolitan locations, where assets of this kind rarely come to market.”
Stonebridge Executive, Harry Curtain, added, “Investors recognised the difficulty of replicating assets of this calibre in today’s land acquisition and construction environment, particularly where long-term income security is paired with substantial underlying landholdings and exposure to future rental and land value growth.”
Both properties were sold by Stonebridge’s Michael Collins, Tom Moreland, Harry Curtain and Thomas Proberts.
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