A SERVICE station near the centre of Toowoomba, featuring two other tenancies, will go under the hammer next month.

The three-tenancy complex on Perth St in Rangeville houses a 7-Eleven petrol station on a 10-year lease, plus two other smaller sites to be filled with foot outlets.

Colliers International lead agent Arthur Carpenter described the property as a “blue-chip” investment with plenty of growth potential.

“Colliers International Toowoomba is proud to present 85 Perth St, Toowoomba to the market,” he wrote on the online listing.

“This asset provides an outstanding opportunity to secure a long-term investment backed by a blue-chip tenant covenant in the thriving Toowoomba region.

“This blue-chip investment is well located in the suburb of Rangeville on the eastern side of Toowoomba.

“Surrounded by a mix of residential housing, recreation areas, education facilities and located on a prime major arterial road within 400m of the Warrego Highway the site is well supported with its closest competition being some 2km distant.”

According to Colliers International, the service station has a net income of $281,000 per year across the three tenancies, and “considerable depreciation benefits”.

Mr Carpenter was contacted for comment.

The auction will be held in Margaret St in Sydney on May 1.

Extracted from The Chronicle