Regional Caltex Investment Purchased by Private Investor ‘Sight Unseen’ for $5.55 Million

Stonebridge Property Group has sold Caltex Parkhurst, a service station in northern Rockhampton, Queensland, for $5,550,000 at a 6.35% yield to a private investor, following a competitive Expressions of Interest campaign.

The property attracted 99 enquiries and four formal offers, with the buyer moving decisively to secure the property sight unseen and on an unconditional basis shortly after the EOI closed.

Located in Parkhurst on Rockhampton’s northern fringe, the property is underpinned by a brand new 10 year lease to 2036, providing the incoming owner with long term, secure income from an established fuel and convenience operator in one of Central Queensland’s key regional centres.

The sale was managed by Michael Collins, Tom Moreland, Harry Curtain and James Freemantle of Stonebridge’s National Portfolio team, which specialises in freestanding investments across the fuel and convenience, childcare, fast food and retail sectors nationally.

Michael Collins, Partner at Stonebridge, commented: “The sale demonstrates the continued strength of the fuel and convenience investment market, particularly across regional and high growth locations. Following a competitive EOI campaign which attracted four formal offers, we were pleased to secure an unconditional sale shortly after the campaign closed.”

Harry Curtain, Senior Executive at Stonebridge, added: “Investor sentiment towards fuel and convenience remains strong, with well-leased assets backed by established operators in consistently high demand. A purchaser committing sight unseen speaks to the confidence investors have in the sector’s fundamentals.”