A major service station property in Western Sydney, tenanted by 7-Eleven and McDonald’s, has sold at auction for $18.4 million, setting a new benchmark for similar assets sold in 2025.
Situated at 601-605 Great Western Highway in Greystanes, the site attracted strong interest at a commercial property auction in Sydney, with nearly 300 bids placed. The sale not only marked the highest price paid for a convenience retail and fast-food asset this year, but also delivered the most competitive investment yield among comparable properties worth over $5 million.
The auction was conducted by Burgess Rawson, which regularly assembles high-profile portfolios for private investors. This particular event saw a total of $35.76 million in commercial assets change hands, with a success rate of 75 per cent and an average blended yield of 4.92 per cent.
Bidding for the Greystanes property opened at $14.8 million and extended for more than an hour. The property was declared on the market at $15.605 million, reflecting a 4.67 per cent yield. It ultimately sold for $18.4 million, settling on a yield of 3.97 per cent.
The appeal of the property lies in its stable tenancies and location. McDonald’s and 7-Eleven entered into 20- and 15-year lease agreements respectively when the site was developed in 2019. The long lease terms, combined with the calibre of the tenants, positioned the property as a premium investment opportunity.
According to property records, the site was acquired in 2018 as undeveloped land for $4.5 million by Craig Smith, director of Smith Property Group and Greystanes Service Centre Pty Ltd.
Assets of this nature are increasingly rare due to a combination of rising land prices and higher construction costs. For investors, this rarity translates into long-term security and strong capital growth prospects, particularly when coupled with blue-chip tenants such as McDonald’s and 7-Eleven.
The Greystanes transaction stood out not just because of the headline figure, but also because of the depth of investor interest—reflected in the large number of bids and compressed final yield.
Other commercial properties also performed well during the auction. Two early education centres drew considerable attention from buyers. A preschool in Tuross Head, NSW was sold for $1.56 million, delivering a 4.99 per cent yield. Meanwhile, a childcare centre in Forbes, NSW achieved $3.701 million with a yield of 5.1 per cent.
The strong results from the auction come shortly after CBRE, a global property services firm, finalised the acquisition of Burgess Rawson’s eastern seaboard operations. This strategic move allows CBRE to leverage Burgess Rawson’s extensive network of high-net-worth investors and their specialised experience in commercial property auctions.
With competition heating up for high-quality, income-generating commercial assets, especially those with secure, long-term tenants, properties like the one in Greystanes are increasingly viewed as reliable, inflation-resistant investments.
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