$6m-plus expected for Cessnock servo

Cessnock’s 7-Eleven is expected to fetch at least $6.4 million at auction next week. Bought brand new by a private investor for $4.85 million in 2016, 214 Wollombi Road brings in about $386,000 net per year. Burgess Rawson’s Dean Venturato said that “three or four” bidders had already registered for the August 2 auction.

“7-Eleven service stations are always popular and this particular one on Wollombi Road is quite a busy location,” he said.

“It’s got a lot of traffic coming in from that western end … it does good turnover.”

The sale will follow a string of service station transactions across the Hunter. A Shell service station at Beresfield sold with Burgess Rawson for $6,925,000 last month, while another at Kurri Kurri fetched $3.75 million late last year. Other recent service station sales include Mayfield East’s 7-Eleven ($4,956,000 in May 2021), and the EG (Caltex) outlet in Salamander Bay ($3.15 million in September 2021).