POINT OF INTEREST:
Expressions of interest (EOI) closing Thursday 5th May at 3pm.
The asset on offer is a longstanding landmark convenience store and petrol station on the South Gippsland Highway, with a mechanical workshop on site for handy maintenance. An investment worth its weight in gold, with ASX Top 100 listed company Ampol as the tenant. Looking at the numbers, this is a land area of 5,676 sqm* with a 10-year lease agreement until April 2028 with multiple 5-year options, positioned on a highway that sees approximately 40,000 cars passing through daily and in a location forecasting a 41% increase in population growth by 2041. The site includes a large canopy, ample car parking for customers, and 10 pumps dispensing ULP and diesel. Strategically adjacent to the Thompson Parkway shopping centre, the site is bolstered by neighbouring traders like BWS, Woolworths, Bunnings, and a new Officeworks — it’s quite literally a one-stop shop.
- 5,676 sqm* land area.
- Highly sought Commercial 1 zoning.
- Returning $259,447.91 per annum.
- 10 + 5 + 5 + 5 year lease terms from 23 April 2018.
- Tenant pays outgoings as per lease including state land tax on a single holding basis.
- An estimated 22,000*** passing cars daily.
- 10 dispensers on site including ULP & diesel.
- 61 m* South Gippsland highway frontage.
- Ampol currently operate 1,900* sites around Australia.
- 39 km* from Melbourne CBD.
POINT OF VIEW:
The City of Casey is a rapidly expanding region; projected to reach a population over 500,000 by 2041. To get here take the South Gippsland Highway — and we know of an ASX Top 100 tenant where you can stop for fuel, snacks, and a long black.
* approx.
** https://forecast.id.com.au/casey
*** source: Vicroads
Remember to mention you found this property on DevelopmentReady
