With a long-term lease to 2032 and a net income of $348,707 a year the 7-Eleven petrol station site at Kanwal might prove attractive to the right buyer.
The property at 211 Wallarah Rd will go under the hammer at Burgess Rawson’s flagship portfolio auction on September 15 and it can be all yours for around $5.5m to $5.8m.
The site is securely tenanted by 7-Eleven for the next 12 years with an option to extend the lease to 2042.
The large 1,851sq m site boasts a wide 50m street frontage and a prime location opposite the IGA-anchored shopping centre in the heart of Kanwal.
According to Burgess Rawson selling agent and director Darren Beehag 7-Eleven was an ideal tenant to secure a growing commercial property portfolio, particularly during recent market uncertainties.
“7-Eleven is not only Australia’s leading fuel and convenience retailer operating more than 800 stores across the country, it is also an essential service not impacted by external factors,” he said.
“A pandemic-proof investment such as this one ensures stability and gives peace of mind to the future buyer.”
Burgess Rawson associate director Rhys Parker said the asset was ideally positioned to offer investors significant long-term value.
“The Central Coast is a highly desirable location that is forecasted to experience a strong population boom over the next 15 years, so is often tightly held, with this site the first eastbound fuel station off the M1 also meaning it will capture significant passing traffic,” Mr Parker said.
Burgess Rawson said the current interest for this property was around the $5.5 million to $5.8 million range.
The 211 Wallarah Road property will go to auction from 11am on September 15 at Sydney’s Doltone House.
Extracted from Daily Telegraph