Ipswich servo to trade off prime shopping centre position

When it comes to location, a near-new Shell Coles Express service station for sale in booming Ipswich could be the best you’ll find.

Adjoining Silkstone Village Shopping Centre on a prime corner site, the petrol station at 73 Blackstone Rd in Silkstone has passing traffic on all four sides, courtesy of entrances to the shopping centre that funnel directly past its entry and exit points.

Being sold on behalf of Coles Group Property Developments Ltd, Eureka Operations Pty Ltd will continue to lease the site as Coles Express Silkstone on a 10-year agreement to June 2029, with options to 2049, the property at 73 Blackstone Rd will be auctioned at Burgess Rawson’s Investment Portfolio Auction on June 26.

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Burgess Rawson director Jamie Perlinger, who is marketing the service station with Scott Meighan and Glenn Conridge, said the property would have a ready-made customer base, with Silkstone Village’s Coles supermarket and nine specialty retailers providing readymade clientele.

The Coles Express at Ipswich.

“You’ve got to go past this site in some capacity to get into the shopping centre,” Perlinger said.

“A lot of petrol station buyers look for busy corner sites like this, but with the shopping centre right there, this one’s on an entirely different level.”

Built in 2017, the station sits on a 1487sqm site with an extensive convenience store, an attached canopy and double-skin fibreglass tanks as part of the state-of-the-art fuel infrastructure.

It has an estimated net income of $200,000 per annum, with fixed 3% annual increases and Coles paying all the usual outgoings.

The petrol station backs onto Silkstone Village Shopping Centre.

Perlinger says the case for the property as an investment is compelling.

“Being almost new, there are significant tax depreciation benefits, as well as the security of a long-term lease to Coles,” he says.

“Then there’s the underlying land value. You’ve got a significant corner site in inner-Ipswich, surrounded by a large residential population. It’s almost impossible to find sites of this scale in locations like this.”

The Shell Coles Express at 73 Blackstone Rd will be auctioned at Burgess Rawson’s Investment Portfolio Auction at Crown Casino’s River Room at 11am on Wednesday, June 26.