Shell servo at Kingsgrove sells on 3.61 percent yield through Savills

Shell servo at Kingsgrove sells on 3.61 percent yield through Savills
Shell servo at Kingsgrove sells on 3.61 percent yield through Savills

A private Asian investor from Sydney has paid $5.06 million on an aggressive 3.61 percent passing yield for a Shell-Coles Express Service Station property at Kingsgrove.

It was at a hotly contested auction conducted by Savills.

Savills agent Steven Lerche said the property was sold subject to a five year lease to Viva Energy Australia Pty Ltd at an estimated net income of $183,022 per annum.

There were 160 enquiries, with over 65 requests for the contract of sale prior to the auction of the 137-139 Kingsgrove Road property.

It came with the bonus of future redevelopment potential of the 3320 square metre site, which includes a portion of undeveloped land, is located at the prime intersection of Kingsgrove and St Albans roads.

It boasts a combined 122 metres street frontage, and is only 600 metres north of the M5 East.

Tags: 
Savills Kingsgrove

Community Discussion

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