Interstate investors win battles

An interstate investor has snapped up a 7-Eleven petrol station in Caboolture for $5,585 million at Burgess Rawson’s recent flagship portfolio auction.

Sitting on 1,507 sqm, the 62-64 Beerburrum Road service station is secured with a 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.

Also sold at the flagship portfolio was Infinity Pharmacy in Burpengary for $2.6 million.

The 115-117 Buckley Road asset in Moreton Bay is on a 10 year lease to 20208, returning $190,550 per annum plus GST.

My Doyle said the 356 sqm site in The Hub retail centre was snapped up by an interstate investor seeking a ‘set and forget’ venture.

“The Moreton Bay region is popular for those wanting to invest in growth areas that are close to major cities, such as Brisbane.

“It’s also a significant growth corridor with a lot of infrastructure investment,” Mr Doyle said.

Published in NEwsMail