7-Eleven at Melbourne's Coolaroo up for sale

7-Eleven at Melbourne's Coolaroo up for sale
7-Eleven at Melbourne's Coolaroo up for sale

A recently-built 7-Eleven retail store with a fuel outlet in Melbourne's Coolaroo is up for sale through expressions of interest.

The 1350 Pascoe Vale Road store is on a 12-year lease to 7-Eleven Stores Pty Ltd that started on August 2012 with options through to 2034.

The deadline for offers is November 13.

The building comprises a retail store outlet over 170 square metres.

It sits on a 1,200 square metre site. 

The current annual rental is $274, 407 net per annum with the tenant paying all outgoings excluding land tax.

The lease provides for an annual rental increase of 3.5%.

Gray Johnson listing agent Matt Hoath expects offers of around $5 million with an an indicative return in the 5.5% range, with building and depreciation benefits providing additional benefit.

The building is adjoined on two sides by the Melba Vale retirement village, while leading retailers are nearby on sites along Pascoe Vale Road.

Tags: 
Commercial Listing Retail Sale

Comments

Be the first one to comment on this article
What would you like to say about this project?