Quarantined Melburnian in Beijing uses WeChat to win $7.3m petrol station auction
A Cranbourne North convenience investment sold at auction to a local using WeChat from hotel quarantine in Beijing.
It was the first time this social media has been allowed at Burgess Rawson’s regular portfolio sales event.
The agency had never permitted online bidding before this week’s occasion, either.
The price for 1655 Thompsons Road reflects a 5.46 per cent net passing yield.
Cranbourne is a growth corridor about 43 kilometres south-east of Melbourne, between major activity centres Dandenong, Fountain Gate/Narre Warren and Frankston.
United Petroleum Cranbourne North
The new convenience store occupies a 3662 square metre site at the north west corner of Wheelers Park Drive, abutting a reserve with a walking track, not far from Woolworths-anchored shopping centre Avenue Village (story continues below).
As well as the petrol station and 25 car parks, 1655 Thompsons Rd includes three shops – which are strata tilted so could be immediately sold down.
The lease to key occupier United Petroleum is for an initial 15 years; with options it can stay until 2054.
The incoming owner will be able to claim tax depreciation benefits.
Marketing agents Zomart He, Shaun Venebles and Scott Meighan said about 13,400 cars pass the property daily.
The City of Casey’s population is forecast to grow c75 per cent over the next 20 years, to c550,000, they added.
