This article is from the Australian Property Journal archive
The sale of a premium service station in Sydney’s upper north shore has achieved one of the highest yields in three years.
A private investor has secured the property located at 192-198 Pennant Hills Road in Thornleigh for $10.75 million on a yield of 6.35%.
Costi Cohen’s Tas Costi represented the buyer and Burgess Rawson’s John Ingui, Rhys Parker and Darren Beehag acted for the vendor.
Costi said the private treaty transaction represents one of the highest yielding service stations sold in Sydney’s metropolitan market over the past three years.
The property previously transacted for $11,025,000 in 2018.
“This incredible asset was secured in just 10 days,” he added.
The property was sold with a 20-year net lease to 2034 to Ampol, plus options to 2054. The rent is paid annually in advance with annual CPI rent reviews capped at 7%.
The net income is $678,254 p.a. plus GST.
