Buy this 7-Eleven and make Dreamworld your neighbour
A 7-Eleven next to the iconic Dreamworld theme park is poised for a thrilling next ride when it goes to auction as part of a very special auction event this month.
The property at Coomera on the Gold Coast is among 18 7-Eleven properties set to be auctioned on one day, with another Queensland property at Nambour also up for grabs.
The February 25 auction comes after the successful sale of 15 7-Eleven-leased assets at a Burgess Rawson auction in October, with a 100% clearance rate as buyers pursued secure investments with long-term leases to Australia’s number one convenience retailer.
Located just 200 metres from the famous theme park, the 7-Eleven at 400 Dreamworld Parkway benefits from more than one million tourists who visit Dreamworld annually.
Currently returning $289,483 net annually, it is the site’s future potential that could see investors come calling, with its enormous 8594sqm landholding considered underutilised.
The property has combined frontage of 277 metres, while a $500 million resort with 225 rooms and two residential towers is proposed for an adjoining site.
All 7-Eleven properties offered at the auction come with brand new 12-year leases, plus options to 2052, along with guaranteed rental growth through fixed, compounding 3% annual rent increases and ‘net’ lease terms, with 7-Eleven paying all rates, repairs, maintenance, building and public liability insurance.
Also up for sale is the 7-Eleven at Nambouor on the Sunshine Coast.
The property at 922 Nambour Connection Rd occupies a highly-exposed gateway site on a key arterial just 900 metres from the Bruce Highway.
The Nambour 7-Eleven will be auctioned as part of an 18-property portfolio this month.
Positioned amid a busy convenience retail, auto and trade precinct, the 1821sqm site has Toyota, Nissan, Mitsubishi, Nambour Rugby League Club, the local showgrounds, an Ultra Tune service centre and the Department of Transport and Main Roads all within 500 metres.
Adding further value to the site, 7-Eleven recently invested in retail upgrades and tank replacements.
It returns an estimated $236,690 in net annual rent and is set to benefit from an influx of 66,700 new Sunshine Coast residents over the next eight years – growth of 21%.
Burgess Rawson associate director Doug Doyle says the pair of Queensland 7-Elevens stood out among the 15 properties to be sold at a special Burgess Rawson Portfolio Auction event at Melbourne’s Crown Casino from 1pm AEDT) on Tuesday, February 25.
“The Coomera store is the largest site we’re offering, in what is unquestionably one of the best locations for a convenience retail property anywhere in the country, being just off the Pacific Highway and so close to a major tourist attraction,” Doyle says.
“The Nambour property is in a high-growth region and surrounded by complementary businesses and services, and its recent upgrades and long, secure lease mark it as a true ‘set and forget’ investment.”
“This is very likely the last chance to have your choice of a tranche of 7-Eleven-leased properties at the one auction event.”
Published on Real Commercial