BRW Rich Lister, Withers and Barlow family have announced the sale of 17 of their 7-Eleven convenience stores across NSW, VIC and QLD.
These sites are some of the properties acquired by 7-Eleven as part of the acquisition of the Mobil Retail business in 2010. The properties have been refurbished and re-opened as 7-Eleven stores.
The Withers and Barlow family are selling the properties and are looking to diversify their portfolio with recently purchased Starbucks stores.
JLL’s Director of Retail, Stephen Bolton said, “These properties will provide investors with a long, blue-chip lease covenant with strong continued growth throughout the lifetime of the investment with a solid rental income of $166,566 to $334,647.
“The 17 opportunities provide high-profile sites with substantial land areas, many with corner locations such as the Wantira South property which is located at a gateway to Know Westfield. The sites range in sizes from 1.113 to 5,598 square metres, and would be a prized property within any investment portfolio.”
The Withers and Barlow family has been operating in the retail grocery industry since 1912.
The company’s licence to operate and franchise 7-Eleven stores in Australia from the US based 7-Eleven Inc was established in 1976.
The first Australian 7-Eleven store opened in August 1977 and today, 7-Eleven operates more than 610 stores, serving around 130 million customers a year.
Holding 32% of the Eastern Seaboard market share, 7-Eleven generates approximately $3 billion in sales per year.
7-Eleven is a globally recognised brand and Australia’s number one convenience retailer.