Melbourne 7-Elevens averaged 4.7% yield
Jonathan ChancellorDecember 7, 2020
Six Melbourne 7-Elevens outlets were sold last week.
The average initial yield was 4.7%.
The sales ranged between Malvern East at $2.85 million and Mill Park (pictured above) at $6.45 million with a $333,339 annual rental.
The other sales were Prahran ($4.23 million), Rowville ($5.9 million), Wantirna South ($5.6 million) and Glen Waverley ($4 million).
The buyers were private investors.
All up, the Withers family secured $71 million last week at the JLL auctions in the latest offering of 15 of its 7-Eleven service station and convenience stores.
Last week. seven NSW offerings of 7-Eleven service stations sold at auction with an average 4.6% yield, tighter than the 6.8% two years ago.
Jonathan Chancellor
Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.