Caltex service station in Kellyville sold for record $9.4 million
Staff reporterDecember 7, 2020
A Caltex service station in the north-western Sydney suburb of Kellyville has sold for $9.4 million.
JLL believes the price achieved represents a new record for the sale of a freestanding service station in NSW since March 2011.
According to market sales tracked by JLL transactions have ranged between $6 million and $7 million.
JLL agent Dylan McEvoy said the record sale price equated to a yield of around 5%.
The 2,634 square metre property located at 662 Windsor Road is leased to Woolworths Limited under a new 12-year net lease with two five-year options.
The property was sold on behalf of Pioneer House Pty Ltd at auction.