Seven Metro Petrol service stations set for auction
Seven individual Metro Petroleum service stations spread across NSW, VIC and QLD are headed to auction, at the same Sydney in-rooms event.
Sites at Broken Hill and Cootamundra in NSW, Bonnie Doon, Rutherglen, Cann River, Great Western in VIC and Texas in QLD are all going to be under the hammer on May 16.
The sites are marketed by Ray White Commercial NSW Director Michael Ajaka, Commercial VIC Director Paul Waterhouse and Commercial QLD Director John Dwyer.
Mr Ajaka said the portfolio of service stations, currently head-leased to Dib Group (trading as Metro Petroleum and a Shell service station at Cann River), offered investors exceptional opportunities to purchase premium investment properties.
“'Metro Petroleum' is a major petroleum brand with approximately 250 service stations and convenience stores across Australia’s east coast, including Western Australia and South Australia,” he said.
“Servicing a large base of wholesale customers nationwide, it makes the company one of Australia’s largest independent service station franchises.
“Service stations really are a solid investment and banks are still financing investors to buy them, which makes them particularly appealing in the current market.
“The operators have good sustainable businesses such as the fuel sales, convenience stores, and with some having cafes they also run on-site.
“These opportunities will appeal to a number of people, from mum and dad investors as part of their superfund portfolios, to high net-worth individuals with interest expected to come from locals, nationals and offshore investors
“Leases on the sites run until 2028, 2029, 2030 with options, with an annual rent increase of CPI as per lease, and tenants paying outgoings as per lease (excluding land tax and building insurance).'"
Service station location and details:
NSW – Ray White Commercial NSW Director Michael Ajaka
· 571 Beryl Street, Broken Hill, NSW 2880
Lease term with options 10 years + five years + five year + five years
Commencement date 1 December 2018
· 111 Sutton Street, Cootamundra, NSW 2590
Lease term with options 10 years + five years + five years
Commencement date 1 August 2017
VIC – Ray White Commercial Vic Director Paul Waterhouse
· 1 Jones Street, Boonie Doon, VIC 3720
Lease term with options 10 years + five years + five years + five years
Commencement date 1 July 2017
· 155-163 Main Street, Rutherglen, VIC 3685
Lease term with options 15 years + five years + five years + five years
Commencement date 1 December 2015
· 28 Princes Highway, Cann River, VIC 3890
Lease term with options 12 years + five years + five years + five years
Commencement date 1 August 2017
· 116 Main Street, Great Western, VIC 3374
Lease term with options 11 years + five years + five years + five years + five years
Commencement date 1 April 2018
QLD – Ray White Commercial QLD Director John Dwyer
· 37 Greenup Street, Texas, QLD 4385
Lease term with options 15 years + five years + five years + five years + five years
Commencement date 1 December 2015
