Victorian truck stop sells for $21.3m
Fawkner Property has sold a sprawling quick service retail investment in a popular holiday spot near the Victoria/New South Wales border.
The BP Truck Stop at 1730 Murray Valley Highway, Barnawartha North, collected $21.27 million following an expressions of interest campaign closing late last year.
Also with a tenancy for Hungry Jack’s, an improvement spreads 1230 square metres.
The weighted average lease expiry is six years.
The 2.34 hectare site at the T-intersection of Logic Boulevard contains 124 car parks.
Zoned Commercial 2, it is exposed to the Murray Valley Hwy 215 metres (continues below).
Stonebridge Property Group’s Rorey James, Justin Dowers, Michael Collins and Kevin Tong were the agents.
The deal comes five years since we reported Wingate paid $32.1m for an asset of this type – a then 10 year record – beside the West Gate Freeway in Port Melbourne.
David Feldman was that seller, on a 4.8pc yield.
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