Increased interest in regional commercial property markets could see plenty of shoppers for a Toowoomba 7-Eleven service station when it is auctioned this week.
The sale of the 7-Eleven at 85 Perth St, Toowoomba also comes amid ongoing demand for service stations nationwide, with the asset class continuing to find favour among buyers.
The 7-Eleven will be sold at Colliers’ Premium Investments Auction this Wednesday, May 1 in Sydney,
Positioned on a 1611sqm corner site, the property has three tenancies, headlined by the 7-Eleven, with the building occupying 451sqm.
It currently attracts combined net rent of $281,753 per annum across the three tenancies, with 3% fixed annual increases and a weighted average lease expiry of 8.53 years.
The Toowoomba 7-Eleven will be sold at auction on Wednesday.
Colliers International agent Dan Dwan says Toowoomba is well and truly on investors’ radars as it experiences an economic boom driven by more than $14 billion of infrastructure investments in the region.
“Given the economic outlook, we are currently experiencing a high level of interest in the Toowoomba area from not only private investors but also listed and unlisted property trusts,” he says.
Dwan says service stations continue to sell at pace, and the Toowoomba 7-Eleven is expected to be no exception.
“Our national team has seen in excess of 120 service station transactions occur in the last twelve months and given the attributes of this asset, it is expected to generate a high level of interest.”