Two strategically positioned largest fuel and convenience retail investments in Southeast and regional Queensland have been brought to market, offering investors long-leased assets backed by two of Australia’s largest fuel and convenience operators.
CBRE has been appointed to market Ampol Flagstone and Caltex Maryborough, with both properties to be offered at CBRE’s Investment Portfolio Auction 188 at 10:30am (AEST) on 29 October at CBRE’s Brisbane office.
CBRE’s Tom Lawrence says the assets represent a rare opportunity to secure investments underpinned by long lease terms and strong tenant covenants.
“Fuel and convenience retail assets continue to attract significant investor demand due to their defensive income characteristics and the essential nature of the services they provide,” he says.
“Both properties benefit from long lease structures, fixed rental growth and national tenants with extensive operating platforms, providing the type of income security investors are increasingly seeking in today’s market.”
CBRE’s Matt Smith says both assets are supported by compelling demographic and location fundamentals.
“Flagstone is one of Southeast Queensland’s fastest-growing residential corridors, while Maryborough continues to benefit from population growth and its role as a key regional service centre,” he says.
“Combined with prominent positions, high traffic exposure and established convenience retail operators, these attributes are expected to generate strong interest from both private and institutional investors.”
Ampol Flagstone
Ampol Flagstone is located at 1-15 Bushman Drive in what is described as the “rapidly expanding” Greater Flagstone corridor, approximately 40km south of the Brisbane CBD.
Constructed in 2020, the “state-of-the-art” convenience retail facility occupies a prominent 1901sqm pad site at the entrance to Flagstone Central, a neighbourhood shopping centre anchored by Woolworths and ALDI. It’s leased to EG Fuelco (Australia), trading as Ampol, on a 15-year lease expiring in 2035, with six further five-year options. The property generates an estimated net income of $300,684 per annum, with annual CPI rental reviews capped at 4%.
The Greater Flagstone Priority Development Area is forecast to accommodate more than 138,000 residents and 51,500 dwellings over the coming decades, underpinning long-term demand within the precinct.
Caltex Maryborough
Caltex Maryborough is located at 72-74 Walker Street in the Fraser Coast region and occupies a prominent 1618sqm corner site with exposure to more than 130,000 vehicles each week.
It’s leased to Viva Energy Retail on an 18-year net lease expiring in 2035, with four further 10-year options. The asset generates a net income of $208,764 per annum, with fixed annual rental increases of 3%.
Within 1km of major retailers including Woolworths, Coles, Bunnings, McDonald’s and ALDI, the site services a growing regional catchment supported by the Fraser Coast’s expanding population and diversified economy.
