Six Queensland 7-Elevens to tempt commercial property investors at March auction

Six 7-Eleven service stations will go to auction on March 22 in Brisbane. 

The six sites are being sold alongside a batch of 10 NSW service stations, which will go to auction on the same day in Sydney. 

The largest of the six properties is a 5,072-square-metre site at 1 Kingston Road in Woodridge, about 20 kilometres south of the Brisbane CBD, which has rent commencing at $136,000 and has an estimated land value of $2 million. 

The full list of properties is:

 

Location

Address

Size

Annual Rent

Land value

Woodridge

1 Kingston Road

5,072 sqm

$136,000

$2 million

Springwood

53 Springwood Road

3,702 sqm

$170,000

$2.4 million

Marsden

79 Chambers Flat Road

3,500sqm

$170,000

$1 million

Sandgate

86 Rainbow Street

1,248sqm

$120,000

$640,000

Strathpine

273 Gympie Road

2,365sqm

$175,000

$920,000

Nambour

922 Nambour Connection Road

1,821sqm

$190,000

$270,000

  

The properties are being marketed by Sam Hatcher and Ben McGrath from Jones Lang LaSalle. 

All properties come with new 15-year leases with three options of five year renewals and guaranteed 4% annual rent increases. 

McGrath tells Property Observer he expects the petrol stations to sell in a similar price range as achieved in NSW and Victoria. 

Last year about $90 million worth of 7-Elevens were sold in and around Sydney and Melbourne.

Investors paid between$1.6 million for a 1,900-square-metre service station in Bayswater East in Melbourne up to $4.6 million for a 2,824-square-metre site in Turramurra in 2011.

Larry Schlesinger

Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer

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