A service station in the Auckland suburb of Mount Roskill is available for purchase and will appeal to buyers looking for a passive investment opportunity with an established tenant and a steady rental stream.
The strategically located property at 158 Stoddard Road is home to Gull and the prominent landholding spans 1201sqm. The service station is highly accessible and benefits from exceptional exposure and large volumes of passing traffic.
Gull’s current lease runs until 2029 and there are four rights of renewal in place for five years each leading to a final expiry of 31 March 2049.
The lease agreement provides $235,304 plus GST and operating expenses in total net annual rental income. There is future rental growth built in through 2.5% fixed annual increases and market reviews upon renewal.
Start your property search
Stoddard Road acts as a busy thoroughfare offering links to Dominion Road and is easily accessed via the nearby Mairo Street motorway interchange.
The property is zoned Business – Town Centre Zone under the Auckland Unitary Plan. The zone allows for a wide range of activities, including leisure, residential, tourist, cultural, community, and civic services, providing a focus for commercial activities and growth.
Colliers directors Gawan Bakshi and David Burley have been exclusively appointed to market the property for sale via deadline private treaty closing October 15.
Constructed in 2017, there is 185sqm of building area at the property, which includes the on-site Gull store. There are also six car parks providing convenience for customers.
Bakshi says there are attractive investment fundamentals that underpin this purchasing opportunity.
“With a nationally renowned operator who is firmly established in this location, investors will welcome the strong tenant covenant attached to the property. Gull has positioned themselves as a fuel provider that has disrupted the market with their competitive pricing,” Bakshi says.
“The fixed annual rental increases will be appealing for investors who will appreciate the continued income growth over time. This is a high-quality bottom-drawer investment that will catch the eye of buyers.”
Mount Roskill’s central positioning means Auckland CBD and the airport can be reached in 25 minutes either way via the motorway network. Key arterial routes Dominion Road and Sandringham Road that lead to the city are also nearby.
The suburb is known for its diverse and multicultural community and there is a broad range of amenities in the surrounding area from the subject property, including cafes, retailers, and restaurants.
Burley says Mount Roskill is a suburb that is continuing to grow through ongoing housing developments and commercial investment.
“Mount Roskill is experiencing housing intensification that will bring more people to the area driving a continued need for commercial services for locals,” Burley says.
“The property offers long-term growth potential through capital gains and we encourage all interested parties to reach out to us to explore their options.”
Supplied by Colliers
