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News release

Ten 7-Eleven convenience stores to go under the hammer

• The auction comes just four months after a 7-Eleven auction in July which achieved a 90% clearance rate.
• This auction is expected to attract self-managed super fund buyers and private investors looking for safe investments.


SYDNEY, 26 October 2011 – Following the success of the 7-Eleven portfolio auction in July which achieved a 90% clearance rate, Jones Lang LaSalle has confirmed that a further ten 7-Eleven convenience stores will go under the hammer on November 9.
 
The auction, which will be the third auction of 7-Eleven properties in New South Wales this year, is expected to attract a number of private investors particular those with self-managed super funds.
 
John Macree, NSW Head of Sales and Investments at Jones Lang LaSalle said, “With growing uncertainty in equities markets, private investors are looking to commercial property for a solid investment opportunity.”
 
"The 7-Eleven portfolio will appeal to self-funded retirees including those with self-managed super funds because of the stable long term income stream and the banks willingness to offer attractive finance packages on these style of assets"
 
Mr Macree added that following the success of the previous campaign, a number of prospective buyers had already been making enquiries.
 
“The last auction attracted a number of keen bidders and we expect that some of those who missed out on an opportunity last time will be heading to the auction room again in November. This portfolio is attractive for a number of reasons including the quality of the tenant, long-term leases and prime locations,” Mr Macree said.
 
The properties that will be up for auction in November include:
Location
Site Area
Emu Plains, 126-128 Old Bathurst Road
3,328
St Mary’s, 2 Wilson St
4,328
Gymea, 110 Gymea Bay Rd & 353 President Ave
1,233
Lindfield, 238-240 Pacific Highway
1,708
Yagoona, 519 Hume Highway
1,267
Ryde, 328 Blaxland Rd
2,093
Ingleburn, 72 Cumberland St
1,728
Lansvale, 22-36 Hume Highway
4,874
Woolooware, 192-196 Kingsway
2,532
Turramurra, 1408 Pacific Highway
2,824

The properties will be up for auction as part of a sale program by 7-Eleven allowing the global convenience retailer to continue to occupy the properties under 15 year leases with 3 x 5 year options.
 
7-Eleven is Australia’s number one convenience retailer with 32% of the Eastern Seaboard market share. Globally, 7-Eleven operates more than 610 stores across Australia serving around 130 million customers each year. The company generates approximately $3 billion in sales per year.