Sterling Property has completed the sale of 1/1163 Albany Highway, Bentley, a near-new dual-tenanted fuel and convenience investment anchored by a global Chevron covenant.
The property sold for $6,360,000, representing a 6.72% net yield on passing income, to an east coast private investor.
The asset is fully leased to Chevron Australia, operating the Caltex brand, and national drive-through operator Muzz Buzz, delivering net passing income of approximately $427,452 per annum and a WALE of 8.60 years by income as at 1 February 2026. Chevron accounts for 89% of income by weighting.
Completed in Q2 2023, the facility occupies a high-profile corner at Albany Highway and Bedford Street, footsteps from Bentley Plaza and positioned along one of Perth’s busiest arterial corridors, approximately eight kilometres from the CBD. The combination of a near-new facility and this strategic metropolitan location underpinned strong buyer competition.
The asset was offered for sale via Offers Invited, generating over 50 enquiries, many offers and multiple qualified buyers who ultimately missed out.
Senior Partner Jack Bradshaw said investor appetite for Chevron-backed assets remained strong across metropolitan Perth.
“Fuel investments leased to Chevron Australia are rarely offered to the open market,” Mr Bradshaw said. “The near-new facility and strategic location near Bentley Plaza drove significant competition throughout the campaign.”
Managing Director Brian Neo said essential-service assets with global covenants continued to draw consistent private investor demand.
“Long-term net leases with built-in rental growth, combined with high-exposure metropolitan locations of this calibre, continue to attract strong private capital.”
To discuss fuel and convenience investment opportunities in metropolitan Perth, contact Jack Bradshaw on 0439 095 336 or Brian Neo on 0411 868 486.
