Brand new Queanbeyan 7-Eleven sells for $6.85 million prior to auction

Brand new Queanbeyan 7-Eleven sells for $6.85 million prior to auction
Staff reporterMay 24, 2020

A new 7-Eleven store in Queanbeyan’s Jerrabomberra has been sold for $6,850,000.

It was sold on a 4.8 per cent net yield prior to its scheduled auction.

Home to Australia’s largest independent fuel retailer, the 2 Ferdinand Lane asset is secured on a new 15-year lease with two options of five years each extending to 2045.

There is and an annual net income of $334,000 + GST (after land tax).

Situated 17 kilometres from Canberra’s CBD, the newly completed 7-Eleven is directly adjacent to a brand-new McDonalds, KFC and Aldi, with the emerging precinct also welcoming a medical centre tenant, scheduled to be completed in late 2020.

The tenant will pay all outgoings.

There is a  3.5% annual rent reviews throughout the lease term.

Editor's Picks

Far East Consortium's charity push in Australia’s biggest stair climb challenge
Princeton tops out Marque Rockdale as development team and Latent Defect Insurance drives sales
Double Bay makeover to continue as Scali furniture boss plots new luxe apartments
Prime Edition launches rare Clifton Hill apartment development, 33 Queens Parade
Exclusive: ICD Property secures riverfront West End site for Brisbane's latest multi-tower precinct