A high profile 7-Eleven investment has hit the market in Australia’s capital, Canberra, with the property to be sold with a long 12-year net lease plus options taking the term out to 2052.
The site is strategically located at the gateway to the entrance of the Erindale Town Centre, anchored by Woolworths, along with other major retailers including McDonalds.
The property brings in a net income of $316,233*, with guaranteed income growth of 3% each year, 7-Eleven covers all usual outgoings.
Stonebridge’s Justin Dowers, selling the property alongside Phillip Gartland, Rorey James and Kevin Tong.
“With the planned nature of Canberra’s suburbs mostly accommodating one service station within its respective shopping centre precinct, the ability for fuel competition to enter the catchment was almost non-existent, providing a very profitable and long-term investment for both investors, and 7-Eleven.” – Kevin Tong, Stonebridge Director.
The underlying value of the 3,378 sqm landholding was a major benefit for investors according to Rorey James, who also noted that it’s strong access and visibility to the heavily trafficked roundabout made this site one the most sought after in the region.
The property, located on the corner of Ashley Drive, McBryde Crescent and Gartside Street, was formerly an Exxon Mobil, before it’s retail business in Australia was acquired by 7-Eleven in 2010.
The property is being sold via a Public Expression of Interest campaign, scheduled to close early December.