This article is from the Australian Property Journal archive
VIVA Energy REIT has acquired service stations in Queensland’s regional cities of Bundaberg and Gympie for a combined $8.89 million via separate private negotiations.
The 1,050 sqm Liberty Oil site at 72 Gavin Street in Bundaberg was picked up for $3.85 million at a 7.0% yield, with a 15-year lease and two 10-year options.
The trust bought the Shell Coles Express on the 1,831 sqm site at 102 River Road (Bruce Highway) in Gympie, which is leased to Viva Energy Australia on a 10-year deal with four five-year options, for $5.04 million at a yield of 6.75%.
It has also settled on $54 million of property acquisitions announced in February and in June using the proceeds of June’s institutional placement. They include properties in Annerley in Queensland, Half Way Creek and Blaxland in New South Wales, and Alice Springs.
The deals take the completed and contracted acquisitions for the trust to $118.5 million since listing on the ASX in August last year.
Margaret Kennedy, managing director of trust manager VER Manager Pty Ltd, said that upon completion of the $29 million development property acquisitions at Alderley and Coomera, the trust would have approximately $135 million of existing undrawn debt facilities to fund further acquisitions.
Australian Property Journal
