Perth

Albany service station sale to fuel investor appetite

CBRE has been appointed to market for sale Shell Orana – a newly constructed petrol station in Albany.

22 May 2019

CBRE has been appointed to market for sale Shell Orana – a newly constructed petrol station in Albany. 

Located at 342 Albany Highway - approximately three kilometres from the Albany town centre – the petrol station is anchored by a 15-year lease to Viva Energy, with four five-year options available. 

The property, which is underpinned by a 3,200sqm land holding, includes an additional 1,017sqm tenancy suited to a food outlet. 

CBRE’s Richard Cash, Anthony Del Borrello & Joseph Du Rieu have been appointed to market the property for sale via Expressions of Interest closing June 27. 

“Petrol stations continued to be a sought-after asset class due to the typically long lease term and secure covenant,” Mr Cash said. 

“Highlighting their appeal, over the past five months, five petrol stations have transacted in WA – with an average yield of 6.17%.” 

Among recent petrol station transactions was Coles Express Vasse for $2.715 million – reflecting a record yield for 6.22% for a regional petrol station.For Australian/international news or global stories, follow us on Twitter: @cbreaustralia

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

Disclaimer:

Neither CBRE nor its affiliated companies make any warranties or claims on the implied accuracy of the information contained herein.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at https://www.cbre.com.