Newtons are pleased to announce that CALTEX Trafalgar sold at auction for $1,200,000. Ron Newton handled the auction campaign in conjunction with Burgess Rawson. The property included a new 10 year lease to Caltex with a net rent of approx $125,000pa with all outgoings paid by the tenant. The property was well located with prime frontage and exposure to Princes Highway. The purchaser recognised the value of the 10 year lease to CALTEX and happily secured the property to add to his Superannuation Fund.
This sale comes soon after the sale of Shell Carrum Downs, which sold to an investor for $4,000,000 prior to auction. This outstanding investment opportunity sold on a sub 7.5% yield and included a lease to a local car wash operator as well as Shell.
For all those investors who missed out on these great buying opportunities be sure to keep an eye out for our upcoming auctions.
Another Financial year has passed, one that most would prefer to forget. Many business sectors have suffered badly, house prices are down and we are saving, not spending. Our leaders in Canberra continue to name call, kick and scratch one another and make ill-conceived policy decisions when they are supposed to plan and set policies which will stand this country in good stead. Little wonder there are low confidence levels………….For full article download PDF.
A modern Freedom branded petrol station at San Remo on Phillip Island Road, overlooking Western Port Bay has been sold by Newtons for $3.59 million. It is one of four Freedom branded freeholds sold, with Churchill, Traralgon and Newborough also selling for a total of $7.6 million
In conjunction with the freehold sales, Newtons have also sold Freedom Fuels’ retail network of 14 sites to United Petroleum for an undisclosed price. Two petrol stations, Kew and Burwood were in Melbourne’s eastern suburbs, while others were primarily in the Gippsland and La Trobe Valley regions. The transaction took well over one year to complete. Intervention by the ACCC, who were concerned about competition issues, delayed settlements by three to four months. All sites are being rebranded by United Petroleum who currently have nearly 300 petrol stations nationally.