In late 2019, meanwhile, the family banked $77.9m offloading 15 more stores, on yields between 3.82-6.07pc, while nine years ago it reaped $71.1m selling another 15 freeholds.

“The hunger for recession proof assets remain[s] at an all time high as they are rarely offered to the market, provide landlord friendly net leases and long-term secure income streams,’ Burgess Rawson’s Yosh Mendis, who marketed 496 Pacific Hwy with Campbell Bowers and Jamie Perlinger, said.

Portfolio sale

The Killara property was one of 10 scheduled for a bulk-auction yesterday; five sold with the balance trading before

All up they collected $35m.

The blended yield was 5.25pc.

The agents said the Killara 7-Eleven was one of two properties to trade at auction on a sub four per cent return – the other, a McDonald’s at 7 Galena St, opposite Westside Plaza, at Broken Hill, fetched $5.75m (a 3.9pc yield).

Also finding favour with investors was a Centrelink at 166-170 Russel St, Bathurst, which traded for $5.1m, reflecting a 7.1pc return.

A Guzman Y Gomez outlet meanwhile, in Orange, collected $6.1m prior to auction – a 3.81pc yield.

“[The] portfolio results exemplify the continued demand for strategically located, fast food, childcare and metropolitan convenience retail assets with outstanding sub four per cent yields being achieved,’ Mr Mendis said.