CBRE in conjunction with Sterling Property are pleased to offer to the market 398 Hector Street (and Flinders Street), Yokine (Perth) WA for sale via National Investment Portfolio Auction 184.

The property has the following key highlights:

+ Leased to Chevron Australia Downstream Pty Ltd, formerly known as Puma Energy (Australia) Retail Pty Ltd
+ Chevron Australia Downstream Pty Ltd is a wholly owned subsidiary of Chevron Corporation, operate 360 convenience retail sites nationally (1)
+ Fifteen (15) year net lease to 2034
+ Chevron Corporation (NYSE: CVX): NYSE listed blue-chip fuel and convenience retailer with 19,550 sites globally and a market cap of $375 billion USD (1)
+ Strong history of performance and long on-site tenure operating 24/7
+ Landlord-favourable, net lease structure with tenant responsible for all usual outgoings including rates, insurance, and land tax with no caps
+ Annual CPI increases, with a ratchet clause meaning rent doesn’t decrease, ensuring consistent and compounding income growth
+ Market rent review in March 2029, in favour of the Landlord, including a ratchet clause
+ Substantial 2,177sqm* landholding comprising fuel & convenience as well as a mechanic (sublease to Chevron)
+ Dominant 93 metre* dual frontage to Hector Street and Flinders Street with three (3) crossovers and access to both directions of traffic
+ Exposure to more than 20,000 vehicles passing weekly (91% light vehicles) (2)
+ Development upside owing to its inner city location
+ Yokine: metro suburb only 5.3km* north of Perth CBD with median house prices up 21.4% over past 12 months to $1.22 million (3)
+ City of Sterling: the largest LGA in Western Australia by population (249,872*), the municipality supports over 88,000* jobs and generates an annual economic output of $40.63 billion (4)
+ Net Income: $379,686 pa + GST (5)

For Sale via National Investment Portfolio Auction 184:
10:30am (AEST) Wednesday 13 May 2026
Crown Casino, Melbourne

CBRE
Lachlan Andrew 0426 890 080
Beau Coulter 0413 839 898

Sterling Property
Jack Bradshaw 0439 095 336

1. Chevron/Caltex
2. GapMaps
3. REIWA
4. RemPlan
5. As at March 2026