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.

Extracted from Property Observer