Located at 21 Edmund Avenue, Unley the property occupies a 652sqm site* at the corner of Duthy Street, one of the area’s key thoroughfares linking Greenhill Road to Cross Road. Two kilometres from the Adelaide CBD, the site offers a strategic location within one of South Australia’s most tightly held residential and commercial precincts.
The property is currently leased to Andrash Unley Pty Ltd, a wholly owned subsidiary of BP, with a 15-year lease in place until 2036 and two further ten-year options. The lease includes fixed annual rent increases of 3 per cent, offering long-term income growth for investors. Net income currently sits at approximately $133,226 per annum, and notably, no stamp duty is payable on the sale.
RWC Adelaide director Oliver Totani said the site offers a rare opportunity for investors to secure a premium asset in a location with minimal competition.
“We’re talking about a high-visibility corner in one of Adelaide’s most sought-after suburbs,” Mr Totani said. “What makes this listing even more compelling is the strength of the tenant and the long lease term. It’s not often that something this secure becomes available in a suburb like Unley.”
The BP brand’s presence at the site was further reinforced by its recent acquisition of X Convenience, a South Australian-based independent fuel retailer. This move expanded BP’s national footprint to over 1,400 retail fuel and convenience locations, including 49 sites across SA and WA.
Under the lease, the tenant is also responsible for the ownership and full maintenance of all fuel-related equipment on site, including monitoring, servicing, and replacement, adding another layer of appeal for passive investors.
Harry Einarson, director at RWC Adelaide, noted the broader demand for assets of this nature.
“We continue to see strong interest in fuel and convenience sites, particularly those backed by nationally or globally recognised tenants,” Mr Einarson said. “These are assets underpinned by long-term leases, fixed rental growth, and ongoing consumer demand.”
Unley has consistently ranked among Adelaide’s most desirable suburbs, with median house prices now surpassing $1.66 million, according to CoreLogic. The area is also undergoing sustained development, with the nearby Unley Central apartment project and streetscape improvements further enhancing local amenity and liveability.
Connor Melvill, sales executive at RWC Adelaide, said that Unley’s commercial offerings are becoming increasingly scarce.
“Zoning and local character protections limit the amount of new commercial development in suburbs like Unley,” he said. “That makes properties like this, especially on prominent corners, extremely tightly held and rarely offered.”
Importantly, the property is the only fuel and convenience site along Duthy Street, providing a strong strategic advantage and consistent local patronage.
