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Dawkins Occhiuto are pleased to present for sale this exceptional opportunity to acquire one of Melbourne’s most high-profile service station and convenience complexes.
The property is prominently positioned along one of Australia’s busiest roads and one of Melbourne’s most vital arterials, the West Gate Freeway, just 3 km from the Melbourne CBD.
With unparalleled freeway exposure to an estimated 175,000 passing vehicles per day, the property sits at the intersection of the Todd Road exit and Cook Street at the inbound entrance to Port Melbourne/Fishermans Bend.
This modern facility investment is anchored by a triple net lease to Viva Energy (trading as Shell/Coles Express) and is complimented with a food court offering four tenancies including two drive through restaurants in Hungry Jacks and Red Rooster.
The existing high-volume site has huge surrounding growth potential, featuring:
- Modern service station and convenience complex constructed 2015
- Large landholding of 10,010 sqm*
- Total lettable area of 697.5 sqm* across Shell/Coles Express and 4 food tenancies
- 2 drive throughs servicing both Hungry Jacks and Red Rooster
- 7 rows of pumps and large truck canopy
- Total passing net income of $1,545,572 per annum* (from 12 May 2021)
- 90% of rental secured for at least 9.7 years (as at 1 April 2021)
- 8.8 year WALE by income (as at 1 April 2021)