Prominent Gold Coast servo fetches $10m
A busy Gold Coast service station once owned by the Lowe family, which founded Independent Fuel Suppliers, now owned by Caltex, has sold again.
The Burleigh Heads investment, 9-15 Tallebudgera Creek Road, collected $10 million – a 5.24 per cent yield.
One Fund Services, linked to Sydney based One Investment Group, was the seller.
It paid the Lowe family $8.75m in 2022.
On 1.04 hectares abutting the southbound Pacific Motorway on-ramp, it is passed by 110,000 vehicles a day, according to Stonebridge Property Group agent, Michael Collins, who brokered the deal with Harry Curtain.
Ampol just renewed a lease. With options it can stay until 2045, he added.
“Commercial freeholds of this scale and with motorway exposure are rarely offered to the national market,” according to the executive (continues below).
“Despite broader market noise, this result highlights the enduring appeal of well-located fuel and convenience investments”.
Mr Curtain added “the strongest groups were not just underwriting the current income, they were also placing significant value on the scale of the landholding, the scarcity of the location and the long-term flexibility of the site”.
The deal comes three months since we reported a Rent a Shed investment in the suburb sold for $9.4m.
Last week meanwhile, Sydney Roosters chairman Nick Politis, as part of a partnership, sold Burleigh Waters’ Treetop Tavern.
That deal was worth c$50m.
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