Stonebridge Property Group has transacted a multi tenanted freestanding 7-Eleven investment at 148B Station Road, Burpengary, approximately 36 km* north of the Brisbane CBD, for $7,785,000 at a 6.12% yield.
Set across a 4,050 sqm* site, the property is leased to 7-Eleven, Mia Bella’s Coffee and Burpengary Dry Cleaner representing a diverse tenancy mix and circa 6 year WALE.
Stonebridge Senior Executive, James Freemantle, said the National Portfolio campaign attracted strong interest from both local and interstate investors.
“The campaign generated 119 enquiries, 7 formal offers and 2 unconditional contracts as part of the national Expressions of Interest process, ultimately transacting sight unseen to a Sydney based private investor.”
Stonebridge Partner Tom Moreland added “This result and encouraging depth of bidding activity highlights the demand our team continues to field from private investors seeking strategically positioned fuel and convenience retail assets, irrespective of tenant profile or remaining lease tenure.”
The transaction adds to Stonebridge’s ongoing national fuel and convenience track record, with more than $87,000,000 in assets sold and settled across the past three months including the below key sales:
7-Eleven Kedron QLD – $7,700,000 at 5.22%
BP Silverwater NSW – $9,000,000 at 5.26%
7-Eleven Epping VIC – $13,000,000 at 5.67%
7-Eleven Ripley QLD – $8,150,000 at 5.63%
For further information or to request a detailed sales analysis, please contact:
James Freemantle | +61 421 140 876 | jfreemantle@stonebridge.com.au
Tom Moreland | +61 408 072 822 | tmoreland@stonebridge.com.au
Harry Curtain | +61 438 684 800 | hcurtain@stonebridge.com.au
Michael Collins | + 61 404 023 204 | mcollins@stonebridge.com.au
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