Seven individual Metro Petroleum service stations across NSW, Victoria and Queensland are heading to auction, Property Observer reports.
The auction for all sites will take place at the same Sydney in-rooms event on May 16.
The service stations are at the following sites:
- NSW: Broken Hill and Cootamundra.
- Victoria: Bonnie Doon, Rutherglen, Cann River and Great Western.
- Queensland: Texas.
The service stations are currently head-leased to Dib Group, trading as Metro Petroleum and a Shell station at Cann River.
‘A major petroleum brand’
Ray White Commercial NSW Director Michael Ajaka, Commercial Victoria Director Paul Waterhouse and Commercial Queensland Director John Dwyer are marketing the sites.
Mr Ajaka says the portfolio of service stations offers investors exceptional opportunities to buy premium investment properties.
“Metro Petroleum is a major petroleum brand, with approximately 250 service stations and convenience stores across Australia’s east coast,” he said. “These include WA and South Australia.
“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. 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 and convenience stores. Some also have cafés they 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. We expect interest 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.”
Where they are
NSW
Ray White Commercial NSW Director Michael Ajaka
- 571 Beryl Street, Broken Hill, NSW 2880
- 111 Sutton Street, Cootamundra, NSW 2590
Victoria
Ray White Commercial Victoria Director Paul Waterhouse
- 1 Jones Street, Boonie Doon, Victoria 3720
- 155-163 Main Street, Rutherglen, Victoria 3685
- 28 Princes Highway, Cann River, Victoria 3890
- 116 Main Street, Great Western, Victoria 3374
Queensland
Ray White Commercial Queensland Director John Dwyer
- 37 Greenup Street, Texas, Queensland 4385
