Marketed jointly by Harry Einarson and Jack Dyson of RWC Adelaide, alongside Shaun Venables, Jamie Perlinger, and Oliver Grivell of Burgess Rawson of CBRE, the property features a newly signed 15-year lease to BP, with options extending through to 2060.
The brand new facility occupies a high-exposure 2,300sqm* corner site in one of Adelaide’s most dynamic and rapidly growing industrial precincts.
Fixed 3 per cent annual rent increases and a net income of $350,000* p.a. + GST underpin the asset's long-term income security.
“This is a flagship asset backed by one of the most recognised energy companies in the world,” said Harry Einarson of RWC Adelaide. “BP’s commitment to this location on a brand new 15-year lease shows strong confidence in the long-term strength of this area.”
Strategically positioned on Waterloo Corner Road, a key freight and commuter route in Adelaide’s north, the site sees over 84,700 vehicles passing weekly, and benefits from 94 metres* of prominent street frontage.
“The Northern Connector has transformed the industrial landscape in Adelaide’s north,” said Jack Dyson of RWC Adelaide. “This area is booming with demand from occupiers, tenants, and developers. Assets like this are becoming increasingly scarce.”
The property is offered with the security of a triple net lease, where the tenant pays all usual outgoings including land tax, as per the lease, further enhancing its appeal to passive investors seeking set-and-forget income.
“Service stations with strong land fundamentals, premium corner positioning and leases to international tenants like BP are among the most sought-after asset classes in the current market,” said Harry Einarson.
“We’ve seen recent transactions in this sector trade at yields between 5.5 and 6 per cent, and buyer sentiment continues to be exceptionally strong.”
Developed by a local group with a long track record of successful commercial projects, the property is brand new and built to the highest specifications expected of the BP network.
“This site is perfectly positioned to be a top performer within the BP network,” said Jack Dyson.
“With access to major freight routes and a booming industrial workforce nearby, it’s a win-win for both investors and the operator.”
