Exciting opportunity to snap up major chain store
A major convenience and fuel company is preparing to auction off one of its Sunshine Coast locations that is set to benefit from rapid growth in the region.
7-Eleven on Nambour Connection Road is one of 18 properties that will be auctioned within one day this month, including the successful Coomera store next to the Dreamworld theme park.
The February 52 auction comes after the successful sale of 15 7-Eleven-leased assets at a Burgess Rawson auction in October, with a 100 per cent clearance rate as buyers pursued secure investments with long-term leases to Australia’s number one convenience retailer.
The Nambour business occupies a highly-exposed gateway site on a key arterial just 900 metres from the Bruce Highway.
Positioned amid a busy convenience retail, auto and trade precinct, the 1,812 sqm 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 a 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, a growth of 21 per cent.
Burgess Rawson associate director Doug Doyle said 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.
“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,” he said.
“The Nambour property is in a high-growth region and surrounded by complementary businesses 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.”
All 7-Eleven properties offered at the auction come with new 12-year leases, plus options to 2052, along with guaranteed rental growth through fixed, compounding three per cent annual rent increases and ‘net’ lease terms, with 7-Eleven paying all rates, repairs, maintenance, building and public liability insurance.