05 Nov Auction Drives Investor Interest To Gladstone
A freestanding United Petroleum-anchored fuel and fast-food investment in Gladstone has gone under the hammer at Burges Rawson’s Flagship Portfolio Auction this month, showcasing the Queensland commercial property market’s road to recovery.
The brand-new 385 square metre drive-thru and convenience facility sits on a prominent 3,900 square metre site and offers the new buyer significant depreciation benefits.
The property is secured on a long-term lease, returning a substantial annual net income of $314,300 pa + GST plus highly desirable fixed compounding 3% annual rent increases, ensuring growth.
Burgess Rawson selling agent Jamie Dewe said the site’s prime location and attractive lease terms have already seen the property pique investor interest.
“United Petroleum and Pie Face secure the site on a brand-new 15-year net lease to 2035 plus options to 2055, solidifying it as a reliable investment opportunity,” Mr Dewe said.
“It’s also seamlessly integrated with a McDonald’s site located directly adjacent, allowing the businesses to capitalise on significant passing traffic.”
Mr Dewe added that commercial properties leased to essential services, including fuel and fast food, have cemented their position as reliable, pandemic proof investments.
“In the last financial year, 81 per cent of Burgess Rawson’s national sales were ‘essential service’ assets, including more than 87 freehold fuel and fast-food asset sales across Australia,” Mr Dewe said.
Excitingly the freestanding United Petroleum-anchored fuel and fast-food investment in Gladstone sold at auction for an impressive $5.68 million on a 5.53% yield!
Burgess Rawson can reveal the buyer was a Sunshine-Coast based investor, and the site attracted competitive bidding on auction day with 8 registered parties, following strong enquiry throughout the campaign