Seymour service station fetches $4.4m week before public campaign launch
A new service station in Seymour, about 105 kilometres north of Melbourne, sold for $4.4 million the week before a public marketing campaign launch.
Quinn Reynolds’ Marcus Quinn and Lincoln Reynolds with Appel Property’s Ben Appel found the buyer while touting it off-market prior to the first advertisements going live.
With a 15 year lease to Shell, the fuel and convenience investment is trading on a sub six per cent yield.
“The property was slated for a public offering…but demand from our investor wait list was just too strong,” the agents said.
In March the three sold another new petrol station, in Gisborne, for lawyer and property developer and investor Konfir Kobo.
Rented to Puma also for 15 years, that asset, 28 Robertson Street, traded for just over $6 million following a deadline private sale (public) campaign.
