The new Pearl Energy-anchored Ampol service station and truck stop at Farleigh, near the sugar mill just north of Mackay, has hit the market ahead of its looming construction completion date this month.
The sale is being handled by Ray White Commercial Queensland agents Tom Barr and Stephen Kidd.
Ray White Commercial Queensland’s partner and head of sales Mr Barr said there was a 15-year net lease on the property, which runs to 2037, with options out to 2057.
The 3645 sqm site, with over 110m of street frontage, is on the corner of the Bruce Highway and the 21-km long Mackay Bypass Road, with 81,200 vehicles estimated to travel past every week.
Of that traffic, 12.9 per cent or 10,500 are estimated to be heavy vehicles.
There is parking for 11 vehicles with four regular, and three heavy, vehicle bowsers. The station can service up to eight cars and four heavy vehicles simultaneously.
“With the nearest service station competition (located) further west, the site is perfectly positioned to capture the Bruce Highway traffic as it heads northbound from Mackay,” Mr Barr said.
“It is set to benefit greatly from the new $1 billion Mackay Ring Road given its location just 3.5 km from the northernmost intersection with the Bruce Highway.”
Mr Barr said due to limitations in EV technology, “blue chip truck stops such as this present outstanding security to investors over traditional fuel stations well into the future”.
He said there was a commencing net income of $340,000 p.a. with strong and certain rental growth and an annual CP increase of + 0.5 per cent to provide an inflation hedge. Projections put the net income pa at $477,000 in 10 years.
This investment opportunity offers very landlord-favourable lease terms with the tenant responsible for all outgoings costs and for the costs of all structural repairs and maintenance, servicing, and replacement (including all fuel tanks and equipment), plus site remediation.
The investment also offers tax depreciation benefits estimated at more than $1.7 million in deductions over the first 10 years.
Mr Barr said construction work by Hutchinson Builders was due to finish on November 22, with the station to open to the public on November 23.
The closing date for expressions of interest in the property is 4pm, Tuesday, November 29.
Extracted in full from: https://www.couriermail.com.au/news/queensland/mackay/property/ray-white-puts-out-eoi-to-operate-new-ampol-service-station-at-farleigh/news-story/b894d1a1d09769f29a64f951e9cd0a4f