Long lease to established tenant and central Bibra Lake location to attract investors.
Colliers International will sell an unmanned service station in Bibra Lake that has a long lease to Caltex Australia Petroleum Pty Ltd.
The fuel station, which services Bibra Lake’s industrial area and trucks travelling to and from Fremantle port, is located on a 4724sqm site at 5 Cocos Drive and will be sold by tender.
The sale will be overseen by Colliers International’s Jeremy Parasiliti who said he expected a good level of interest from investors.
“With ten years remaining on the lease to Caltex and options to renew, this high-volume fuel depot offers a secure rental income in one of Perth’s key industrial areas,” Mr Parasiliti said.
“There’s strong demand for leased investment properties in the industrial market and we expect to receive a number of tenders.”
The service station has an annual rental income of $283,385, annual rent reviews of four per cent and market reviews every five years.
Mr Parasiliti said unmanned service stations were important facilities that support logistic providers and were in most of Perth’s key industrial areas.
“Equipped with high-flow bowsers, they provide trucks with convenient and fast re-fuelling,” he said.
Tenders for 5 Cocos Drive, Bibra Lake, close on February 28.