A Newcastle-based private high net worth investor has paid $6.65 million for the brand new 7-Eleven in Muswellbrook.
The buyer used their superannuation fund to secure the property at 31-33 Maitland Street, which opened in June.
The service station brings in about $315,000 net per annum and has a 12-year lease with options for 20 years.
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Commercial Collective's Matt Kearney said the tight 4.74 per cent yield reflected the secure nature of the tenancy, which comes with three per cent fixed annual rent increases.
"They've also got some depreciation benefits with it being a new asset and 7-Eleven is obviously a good covenant to have," he said.
"The price is comparable to other 7-Elevens that are being sold around Australia at the moment."
The sale coincides with the transaction of Cessnock's 7-Eleven, which sold for $6.4 million this month to a Sydney buyer who has property in the Hunter.
Burgess Rawson made the sale.
CHILDCARE CENTRE OPPORTUNITY
The under-construction Singleton Childcare Centre has been listed for sale-and-leaseback with Colliers and Ray White Commercial.
The 86-place centre is being built at 188 John Street in the town's north and is due for completion in January.
Singleton ELC, a subsidiary of Bristol Group which has 13 childcare centres across NSW and another eight in the pipeline, will pay an annual rent of $344,000 over a 15-year lease term with two 10-year options.
Expressions of interest close August 24.
