On behalf of Citimark Properties, Stonebridge Property Group is pleased to announce the sale of 7-Eleven and Starbucks Kedron in Brisbane.
Sold as individual lots via a competitive Expressions of Interest campaign, the properties achieved a combined sale price of $12,900,000, reflecting a blended yield of 4.99%.
The campaign generated 224 total enquiries and 14 competitive offers, demonstrating continued demand for high quality, income producing assets leased to nationally recognised tenants.
Completed in 2024, the assets occupy a premium landholding just 8 kilometres from the Brisbane CBD, in a prime convenience retail location along Gympie Road, one of Brisbane’s busiest arterials with over 65,000 vehicles passing daily.
Both 7-Eleven and Starbucks had committed to 12 year net leases to 2036, with options extending to 2056 and fixed annual rent increases of 3%. Each tenant occupied its own freehold lot and the assets were sold separately to interstate private investors sourced by our National Portfolio process.
Individual Results:
- · 7-Eleven Kedron sold for $7,700,000, representing a 5.22% yield
- · Starbucks Kedron sold for $5,200,000, representing a 4.65% yield
The campaign was conducted by Stonebridge’s Michael Collins, Tom Moreland, James Freemantle and Harry Curtain.
Commenting on the result, Michael Collins, Partner at Stonebridge, said, “Market appetite for fuel and convenience investments has significantly increased, with bidder depth doubling across key campaigns over the past six to twelve months. The sector is going through another ‘purple patch’ and recent transactions demonstrating yield compression is taking place, driven by renewed confidence by private investors.”
Stonebridge Partner, Tom Moreland, added “fast food investments continue to be a favourite among private investors, and we are now seeing broader recognition of the strength of the Starbucks covenant, which is backed by the original founders of 7-Eleven in Australia and continuing to roll out nationally in strategic locations.”
For more information, please contact the team below:
Michael Collins | +61 404 023 204 | mcollins@stonebridge.com.au
Tom Moreland | +61 408 072 822 | tmoreland@stonebridge.com.au
James Freemantle | +61 421 140 876 | jfreemantle@stonebridge.com.au
Harry Curtain | +61 438 684 800 | hcurtain@stonebridge.com.au
Join The Discussion