Descrição

JLL Retail Investments is pleased to present the opportunity to acquire 7-Eleven South Morang – a premier freestanding metropolitan service station investment located at 840 Plenty Road, offered via Expressions of Interest.

Occupying 3,665 sqm* of prime arterial land, the asset commands a high profile 41m* frontage onto Plenty Road, with daily exposure to 50,000+ vehicles in the heart of South Morang, strategically positioned within Melbourne’s northern high growth corridor.

The investment is secured by a 10-year NET lease to 7-Eleven Stores Pty Ltd, the world’s largest convenience, and fuel retailer. The lease features favourable CPI rental increases throughout the term and one further five (5)-year option, delivering exceptional long-term security through March 2035 with the flexibility to renegotiate a new lease, occupy and/or further expand or develop the underutilised land at the rear (STCA).

Key investment highlights:

+ 10-year NET lease to 7-Eleven with one further 5-year term to 2035.

+ 7-Eleven: Australia’s #1 convenience retailer with a 760+ store network in Australia, operating 48,000+ sites globally.

+ Expansive 3,665sqm* landholding with 41m* of prime retail frontage to Plenty Road with 50,000+ vehicles passing daily.

+ Future value-add potential with over 1,200 sqm* in under-utilised land - subject to approvals.

+ Guaranteed rental growth with favourable CPI rent reviews throughout the term, with a minimum 3% and a maximum 6% annual increase annually.

+ NET lease structure with tenant responsible for all usual outgoings, excluding land tax.

+ Prime retail precinct, all within 500m* from South Morang Home, Axis Lifestyle Centre, Commercial Hotel, Dan Murphy’s and more.

+ One of Melbourne’s fastest-growing municipalities - the City of Whittlesea forecasts 55.6% population growth by 2041, underpinned by the $26bn+ North-East Link project.

+ Net Income: $328,020 pa + GST.*

For further information, please contact the exclusive selling agents:

Dominic McGrath | 0416 440 525

Romanor Falconer | 0400 757 171

Tom Noonan | 0402 319 698

*Approximately

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