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Posted on 02 September 2010

A Sydney based private investor has bought a petrol station property in the Melbourne suburb of Deer Park for $2.2 million. Located on Station Road, the deal reflects a 7 per cent yield and is 15 per cent above the vendor's reserve price. United Petroleum occupies the property on a 10 year lease that started in August 2010. The tenant provides $156,461 in rental income per annum. Vinci Carbone Property agent Joseph Carbone brokered the deal.