MPF sells 7-Eleven service station for $5.75 million
Mair Property Funds is excited to announce the sale of the 7-Eleven service station in Canning Vale as part of our ongoing strategy for MPS Unit Trust 2.
The property, situated at 488 Ranford Road, was sold through Paul Davidson of Vend Property in an off-market transaction for a total of $5.75 million.
Our team initially developed the site in 2016, securing a 15-year lease agreement with the international service station chain.
Being a relatively new asset with a strong tenancy in place and over ten years remaining on the lease, we saw a key opportunity earlier in 2019 to maximise the property’s investment value through its sale.
We are confident given the time in the cycle and the current low-yielding environment that we have achieved a strong price for the asset, and are very pleased with the results of the transaction.
The MPS Unit Trust 2 currently holds a number of other assets including Beldon Shopping Centre, which underwent a full refurbishment in 2016 after signing a 20-year lease to national retailer, Woolworths.
With the refurbishment significantly boosting foot traffic to the centre, we are now working actively with our property management division to further maximise the property’s value, and look forward to exploring further opportunities to enhance the trust’s performance on behalf of our investors.
If you would like to be notified of upcoming investment opportunities with Mair Property Funds, please contact our Key Relationships Manager Brad Dunn at firstname.lastname@example.org