A prominent 7-Eleven Service Centre has been successfully sold to a local investor, underscoring the continued strength of the convenience retail and service centre investment sector.
Anchored by a corporate 10-year lease to 7-Eleven Australia, the property also features a 10-year lease to MyCar, the automotive service brand acquired by Continental AG (Germany) in 2023 following its purchase of K Auto from Kmart Australia.
Adding to the asset’s appeal is a third tenancy occupied by Bean Squeeze, a thriving drive-through coffee and snacks operator. Together, the three tenancies contribute to a weighted average lease expiry (WALE) of 10 years, providing strong income security for the purchaser.
The sale achieved a yield of 5.95%, reflecting robust investor demand for high-quality, securely leased assets in the service station and convenience retail space.
CRS Property are the current managing agent and successfully negotiated the sale. The sale price remains undisclosed.
About CRS Property
CRS Property is a trusted commercial real estate agency specialising in sales, leasing, and property management across Victoria. With deep market knowledge and a client-first approach, CRS Property consistently delivers outstanding results for property owners and tenants alike.
Strategy. Delivered.
Media Contact:
Myles Snow
CRS Property
Phone: 0418 314 109
Email: msnow@crsproperty.com.au
Website: www.crsproperty.com.au
