CBRE has managed the separate sales of two service station assets in New South Wales and Queensland at strong yields of below 6percent.
The sales, totalling $12.1million, were completed by CBRE Brisbane's Darren Collins and Sergio Demetriou with CBRE Melbourne's Joseph Du Rieu.
"These transactions highlight a strong start to the year for single tenanted assets and continued support from the major banks to finance service station investments, demonstrating they are still eager to lend on the right products with strong covenants and long lease tenure," Mr Collins said.
Coles Express Murwillumbah, a new service station with three-street frontages, was sold for $5.8 million at a yield of 5.95percent.
The 1597sqm, Pacific Highway site is leased to Eureka Operations, offering a ten-year, triple-net lease agreement with fixed increases of 3.25percent.
A local investor purchased the Tweed Shire property, which is situated 13km south of the Queensland border, adding to...