Investors fuelled by growth to target brand new Byford retail opportunities

Perth, 14 June 2016 – Strong demand for quality retail leased investments in Perth’s metropolitan area has prompted the sale of the Byford 7-Eleven.

CBRE Metropolitan Investments has been appointed to sell a brand new 7-Eleven service station in the rapidly growing suburb of Byford, in Perth’s south eastern residential corridor. 

The high profile site at 76 Abernethy Road benefits from a strong tenancy profile, with 15-year lease to national retailer, 7-Eleven Stores Pty Ltd, plus options until 2056.

The property, which offers an extensive 66 metres’ frontage to Abernethy Road, provides a net annual income of approximately $310,000.

CBRE’s Ben Younger and Kate Foley have been appointed to exclusively handle the sale of the property on behalf of Emmett Property via an Offers to Purchase campaign. 

Mr Younger said the opportunity to acquire this property came at a time when demand continued to strengthen for securely leased, single tenanted retail investments.

“There continues to be strong appetite for securely leased retail investment assets, with an attractive covenant such as 7-Eleven expected to be of particular interest to both local and national investor groups,” Mr Younger said.

Ms Foley said the property’s prominent location in the high-growth area of Byford would be a major selling draw card.

“The property is positioned to benefit from ongoing growth in the Byford area, supported by the new Byford Village Shopping Centre, which is due for completion in 2017,” Ms Foley said.

“Furthermore, with several residential developments proposed and under construction in the surrounding area, Byford is in an area forecast to experience high population growth over the next 20 years, which will ensure investment opportunities such as this offer attractive returns.”