Shell out for one of two Albury servos, or both
A pair of service stations in the NSW border town region of Albury will be auctioned next month, offering two strategic investment opportunities in one of Australia’s strongest regional centres.
A near-new BP-branded station in Albury East occupies one of the area’s premier sites, with the property adjoining a McDonald’s restaurant and sitting opposite a new $39 million Bunnings Warehouse, and will be auctioned with price expectations of more than $4.3 million.
“It rings true when we say, ‘location, location, location’. Strategically positioned between McDonalds and Bunnings Warehouse, where else would you want to be?,” says Burgess Rawson director Raoul Holderhead.
In addition, the 1482sqm site at 687 Drome St is in close proximity to a large format retail centre, enjoys 71 metres of street frontage and a 15-year lease to an experienced fuel operator, as well as returning more than $302,000 in annual rent. It has a price guide of circa $4.25 million.
At nearby Jindera, a Shell-branded service station leased to major fuel retailer Westside Petroleum is also set to be sold.
The Westside Petroleum-leased Shell service station at 99 Urana St, Jindera.
The property at 99 Urana St is positioned close to the town centre, occupying a 1366sqm corner site next to an Australia Post outlet and near an IGA supermarket within the Jindera commercial precinct.
It currently returns $238,702 per annum and is leased to Westside, which is 50% owned by Australia’s largest fuel retailer Viva Energy until 2028, with a further 10 years of options, has has a price guide of circa $3 million.
Both stations will be auctioned at Burgess Rawson’s latest Investment Portfolio Auction at Crown Casino on Wednesday, April 3.
Holderhead says service stations continue to endure as one of Australia’s most in-demand asset classes, and particularly in strong regional locations.
“Commercial property buyers have increasingly displayed interest in the retail fuel industry, with Burgess Rawson transacting more than 200 fuel assets with a combined total of $424 million since January 2016,” he says.
Burgess Rawson’s 127thInvestment Portfolio Auction will be held at Crown Casino’s River Room at 11am on Wednesday, April 3.
