The stations, all with long leases and guaranteed rental income, include two from property group Burgess Rawson. 

The first is a rare investment of an as-yet-uncompleted site that includes leases with highly-recognised brands – among them BP, KFC, Taco Bell and Carl’s Jr – on the strategically placed Princes Highway that boasts a daily pass rate of 58,000 vehicles.

The site is at the entrance to the high-growth suburb of Officer in Melbourne’s outer east which has a population forecast growth of 244 per cent by the year 2036. 

It is also close to two major arterials, the Princes Highway and the Monash Freeway, which provide access to the Melbourne CBD some 44km away.

Burgess Rawson said the property has brand new 12-year and 10-year net leases with fixed compounding three per cent annual rent increases and, for the investor, has “significant depreciation benefits.” 

To be called the Beaconsfield Service Centre, in addition to the national tenants BP, KFC, Taco Bell and Carl’s Jr. it will host six retail shops.

The BP outlet is a brand-new purpose-built 266 square metre fuel station to BP/Jasbe’s latest design and has separate truck and car canopies plus full line convenience store.

United Devonport

Its location adjoins a proposed 108 townhouse development and a future planned Woolworths anchored shopping centre within 100 metres.

The second site is a United Petroleum outlet in Tasmania’s biggest north-eastern town of Devonport. It is one of the fuel company’s 465 sites.

Built in 2017, the outlet is for auction and has what the agent describes as a “rare 17-year triple-net lease to 2034 plus options to 2054.” 

These are “landlord-favourable, triple-net lease terms with the tenant responsible for rates, building insurance, public liability insurances and single holding land tax. The tenant is also responsible for all structural maintenance, repairs and replacement.

The agent said that United Petroleum owns, maintains and repairs all fuel tanks, equipment plus site remediation.

It is listed as having strong and certain fixed annual rental growth. Net income of $234,682 a year plus GST and has compounding 3.25 per cent increases.

The property is on a large 1834 square metre corner site with a combined 85 metres of street frontage and exposure to 52,000-plus vehicles per week. 

It is located directly opposite Devonport High School (500 students) and 450 metres from Woolworths, Coles and Kmart.

United Petroleum is said by the agent to be among the fastest growing fuel retailers, with 38 new sites opened in the past 24 months and a further 40 in advanced planning or under construction.

The fuel company bought the Pie Face business and trademark in 2017 and has since grown the network to over 240 locations.

Burgess Rawson will hold the auction on October 26. Details are available from the company.

BP Beaconsfield

By Neil Dowling