APN buys Coles servos

APN Convenience Retail has paid $10.2 million for two Coles Express petrol stations in regional Australia.

The sites in Gatton in Queensland and Inverell in NSW will join the listed REIT’s properties.

The properties are leased to Coles and were built in the past five years.

The identity of the entity that sold them to APN has not been released.

In its market update, APN said it had completed four other petrol station property development projects since December.

Three are in South Australia – two Mobil X properties at Hampstead Gardens and Gepps Cross, and a Liberty one at Edinburgh North.

The other is a Liberty property at Gosnells in Western Australia.

APN shares were trading higher by 3.03 per cent to $3.40 at 1.48pm yesterday.