A KFC and BP anchored petrol station at 210 Ballan Road in Wyndham Vale went for $7.665 million (on a 6.48 per cent yield), while a 7-Eleven at 296 Pinjarra Road in Mandurah in Western Australia fetched $5.45 million (on a 6.33 per cent yield).

Recent portfolio auctions have had hit and miss success. The clearance rate at an event held late last year tumbled to 28 per cent amid differing expectations between sellers and buyers.

Portfolio auction specialist Burgess Rawson achieved a 66 per cent clearance for its March auction of 12 properties in Victoria and Queensland, with a stronger showing of investors.

CBRE director Mark Wizel said there was still investor confidence in the fuel sector with the service stations attracting strong interest.

Mr Wizel said there were fewer Asian bidders at the event, which was open to live bidding from offshore investors, than at other times.