InvestingSeven Woolworths Caltex petrol stations sell with slightly higher yields than those sold two years agoSeven Woolworths Caltex petrol stations sell with slightly higher yields than those sold two years ago
Burgess Rawson sold seven Woolworths Caltex petrol stations last week for as $10.96 million total, but a similar portfolio of service stations two years ago sold at lower yields, averaging about 5.5%.
The slightly higher yields on the latest sales shows that the market has softened marginally, Burgess Rawson director Simon Staddon suggests.
Prices ranged between $1.1 million at Childers in Queensland to $2.15 million at Balwyn in Melbourne.
The yields ranged between Balwyn’s 5.49% to 6.73% in Childers.
They were offered with new full term 15-year leases with five renewal options of five years each to 2052. Rents will be reviewed annually in line with the consumer price index, up to a maximum of 4%. Burgess Rawson issued 160 contracts to interested parties.
The yields are similar to those for 7-Eleven stations that recently sold in NSW and Queensland.
