Melbourne investor buys 7-Eleven service centre for $7.4 million
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A Melbourne-based investor has purchased a high-performing service centre in Bellmere, Queensland for $7.4 million, highlighting strong demand for quality retail assets.
The 4,518 square metre property, located at 84 Bellmere Road, was sold through an expressions of interest process conducted by Colliers Queensland agents Hunter Higgins and Sam Polichronis.
Anchored by a 7-Eleven store, the service centre also houses four additional tenants including Champion Liquor, Bellmere Vet, The Dental Club and Re/Max.
Hunter Higgins, Colliers Queensland National Director Investment Services, said the sale attracted significant interest from investors.
“The service station market in SEQ remains competitive for quality product, the major drawcard for this deal was a 15-year corporate lease to the world’s largest convenience retailer and one of Australia’s largest fuel operators, 7-Eleven,” Higgins said.
The fully leased centre boasts a weighted average lease expiry (WALE) of 7.41 years and is situated near a national childcare operator and a new Woolworths Shopping Centre.
Higgins noted that the asset is positioned in a prime corner location west of Caboolture, an area slated for significant residential development over the next four decades.
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Sam Polichronis, Colliers Queensland Executive Investment Services, highlighted the ongoing appeal of service stations to investors.
“Despite general concern regarding the future of service stations due to alternatives becoming desirable, the overall growth of the sector has grown significantly with projections estimating further growth in the coming years,” Polichronis said.
He added that 7-Eleven has stayed ahead of industry trends by capitalising on the growth of non-fuel products and other services.
The Bellmere Service Centre, which opened in 2019, benefits from dual street frontage to both River Drive and Bellmere Road, connecting to main arterial roads King Street and Morayfield Road.
Polichronis emphasised the resilience of essential service assets like this one, noting their ability to provide reliable income and potential for capital growth.
The sale underscores continued investor appetite for well-located retail assets with strong tenant covenants, despite broader economic uncertainties.