AUSTRALIA: 7-Eleven chain to auction 25 outlets next month

US convenience store chain 7-Eleven is set to auction 25 of its Australian outlets next month. The stores, thirteen of which are in Victoria, eight in Queensland and four in New South Wales, will be sold with annual rent reviews, ten-year leasebacks and five-year options. The multinational company, which operates 247 convenience stores in Australia after arriving on the domestic market in 1977, hopes that the auction will allow it to take advantage of the current strong-performance of the commercial property market.

April 26, 2001

US convenience store chain 7-Eleven is set to auction 25 of its Australian outlets next month. The stores, thirteen of which are in Victoria, eight in Queensland and four in New South Wales, will be sold with annual rent reviews, ten-year leasebacks and five-year options.

The multinational company, which operates 247 convenience stores in Australia after arriving on the domestic market in 1977, hopes that the auction will allow it to take advantage of the current strong-performance of the commercial property market.