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News release


7-Eleven service stations remain a sought-after asset class for Australian investors

Following the 100 per cent clearance auctions of 15 x 7-Elevens by JLL across the Eastern Seaboard during August, a brand-new purpose built 7-Eleven at Albion Park Rail, set for completion in November 2014, is on the market

​SYDNEY, 26 AUGUST, 2014 – Following a string of successful 7-Eleven convenience store and service station investment auctions this month, a new, soon to be completed 7-Eleven is announced to the market. During August, JLL sold 15 x 7-Eleven properties across the Eastern Seaboard under the hammer at a 100 per cent clearance rate for a total $71.115 million.

The brand-new purpose-built building, situated on a significant 4,752 sqm site, is due for completion in November 2014. The property is located at 138-142 Princes Highway, Albion Park Rail – a major highway location linking Sydney to the NSW South Coast. 

JLL’s Director for Sales & Investments Michael Ajaka, and Senior Negotiator for Sales & Investments Dylan McEvoy, are handling the sale on behalf of a Private Developer.

“This is a rare opportunity to acquire a brand-new building and lease with a quality tenanted and internationally-recognised service station investment,” said Mr Ajaka.

Head leased to 7-Eleven on a new 15-year lease plus three five-year options to 2044, it is expected to be just as in demand as the previous 7-Eleven properties sold this month, according to Mr Ajaka.

According to Mr McEvoy, “The strength of service stations as an asset class for Australian investors was confirmed earlier this month when 15 x 7-Eleven properties were sold at auctions across NSW, QLD and VIC. 

“This property provides all of the necessary ingredients for a prudent investor, including a strong lease covenant, long-term lease and solid continuous growth underpinned by a prime land holding. The tenant will pay all outgoings, including land tax, making it an extremely comfortable investment,” said Mr McEvoy.

A second building adjacent to the 7-Eleven property is in planning phase to be built and occupied by a fast-food operator and subleased to 7-Eleven, increasing traffic for the business. 

The 7-Eleven property at 138-142 Princes Highway, Albion Park Rail is set to have a Net Passing Income of $350,000 per annum with fixed three per cent annual increases. 

7-Eleven is a globally recognised brand and Australia’s number one convenience retailer. 7-Eleven Stores Pty Ltd is owned by the Withers/Barlow family and ranks in the Top 30 of BRW’s Top 500 Private Companies listing.