Stonebridge is pleased to announce the recent sale of the Melton South Service Centre. Anchored by 7-Eleven, the property was sold for $11,111,000, representing a 6.39% yield.

The 5,108 sqm landholding is occupied by a recently built service centre which comprises of six (6) shops, including tenants 7-Eleven, Ultra Tune and Soak City Car Wash.

The successful Expression of Interest campaign was part of the Stonebridge March National Portfolio, with Rorey James and Kevin Tong the exclusive agents, handling the sale on behalf of the Private Developer.

“Following a competitive EOI campaign which culminated in 3 second round contracted offers, 2 via Stonebridge’s Asia Practice, the Melton South Service Centre was secured by a local investor who is already invested in the Melton South area. Given the number of shops (6) and price point, we feel the 6.39% yield is a strong result in the current market”. Rorey James

 

“Although the larger price point of the service centre priced out traditional petrol station investors, the Stonebridge team was able to leverage from our experience in transacting larger service centres which assisted in us getting the eventual result.” added Kevin Tong