Huge interest in Gladstone commercial property auction
ONE OF Gladstone’s most premium commercial properties is set to go under the hammer next week in an auction that is attracting huge interest from buyers.
The United Petroleum and fast food outlet on Hanson Road is adjacent to McDonalds and will go under the hammer at Burgess Rawson’s Flagship Portfolio Auction on October 27, showcasing the Queensland commercial property market’s road to recovery.
The brand-new 385 sq m drive-through and convenience facility sits on a prominent 3,900 sq m site and offers the new buyer significant depreciation benefits.
Burgess Rawson selling agent Jamie Dewe said the site’s prime location and attractive lease terms had already piqued 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 said commercial properties leased to essential services, including fuel and fast food, had 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.
“Since then, fuel and fast food assets have solidified a reputation as one of the most highly sought-after investments nationally, so we expect this to be reflected again with strong interest in this property ahead of auction.
“Buyer demand and yields of recent sales are both holding strong as astute investors increasingly focus on assets that remain resilient and offer security among market uncertainties.”
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 per cent annual rent increases, ensuring growth.
The Gladstone Central site boasts a 58-metre frontage on the high-profile gateway location and is heading to auction from 11am AEST on Tuesday, October 27 at Yallamundi Rooms in Sydney Opera House.