The Reynolds Road, Doncaster East United Petroleum service station with convenience store achieved a sale price of $7.35mil while the site on the corner of Bell St and Albert St, Preston attracted a sale price of just over $11mil. A private offshore investor clearly saw the potential of these sites with 20 year triple net leases to United Petroleum and 15 year lease to Hungry Jacks
Investors are strengthening their interest in fuel sites as these are seen to be secure given long-term leases with reputable tenants combined with growth opportunity and long term development upside.
PE Capital currently has four sites across Victoria in early development stages with secured tenants including Caltex, Puma and 7-Eleven. The PE Capital P1 Fund is open to investors interested in investing across PE Capitals pooled property projects with an expected return rate of 18% p.a. Further details on this fund can be found here