Soon-to-be-vacated 7-Eleven HQ in Mount Waverley listed for sale

The building at 357 Ferntree Gully Road, Mount Waverley, is being targeted to investors and owner-occupiers.

Four months after it was reported that convenience retailer 7-Eleven was relocating to Melbourne’s inner-city, its long-time suburban headquarters, in Mount Waverley, has been listed for sale.

The 2007 square metre building on a 3886 sqm block at 357 Ferntree Gully Road (pictured top, left and bottom) is being marketed to investors and owner-occupiers.

It is being offered with a lease to 7-Eleven Stores Pty Ltd, which pays annual rent of $750,108 on a lease expiring in April, 2019 with two one-month renewal options.

The modern double-storey structure, with a high-quality fit-out, is in the suburb’s popular Monash Precinct, about a kilometre from the Monash Freeway (M1) and 16 kilometres south-east of the Melbourne CBD.

ANZ, Kaufland, Schneider Electric, Pellicano Group and Westpac occupy offices in the immediate area. The property is also near Monash University, part of which we reported this week is making way for the Victorian Heart Hospital – the first clinic of its type in Australia.

Colliers International’s Andrew Ryan and Peter Bremner are marketing 357 Ferntree Gully Road via an expressions of interest campaign closing on December 5. Charter Keck Cramer is the transaction adviser.

Podco and Terraplex own these buildings within a business park at 658 Church Street, Richmond.

7-Eleven Australia, and Starbucks Australia, both businesses controlled by Russell Withers and his sister, Beverley Barlow, recently signed a lease for 7400 sqm of office space vacated by the Just Group at Building two, 658 Church Street, Richmond (pictured, right), which is co-owned by PodCo and Terraplex.

Just Group is moving to St Kilda Road after 21 years in Richmond.

In 2015, Beverley Barlow bought a waterfront home in bayside Brighton for close to $20 million – a record price for a residential property in the suburb.

An aerial view showing 357 Ferntree Gully Road, Mount Waverley (outlined), in relation to the Melbourne CBD, about 16 kilometres away.

Marc Pallisco

A freelance property writer and analyst, Marc is a co-founder of realestatesource.com.au.

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