Caboolture servo sells for $5.585m

An interstate investor has snapped up Caboolture’s 7-Eleven petrol station for $5,585,000 on a 6.09% yield at Burgess Rawson’s Flagship Portfolio Auction last month.

Sitting on 1,507 sqm, the 62-64 Beerburrum Road service station is secured with a brand new 15-year lease to 2032 with options to extend until 2047 and returns an annual net income of $340,112 plus GST.

Burgess Rawson selling agent Doug Doyle said the blue-chip property offered various benefits that caught the eyes of investors.

“7-Eleven is Australia’s top convenience retailer operating more than 700 stores across the country, with buyers attracted to this site’s prime corner location boasting 72 metres of combined frontage and high visibility to Beerburrum Road, which is of course Caboolture’s main arterial carrying over 24,000 vehicles daily,” Mr Doyle said.

“The property offers significant depreciation benefit and the tenant pays all the usual outgoings, to underpin the solid long-term growth.”

The sale was jointly handled by Jamie Perlinger of Burgess Rawson Melbourne.

Published in the Sunshine Coast Daily