Why buy one Caltex servo when you can buy two?
It’s not often you can secure a monopoly on the petrol retail industry in a popular tourist region in one fell swoop.
But that’s what’s on offer in West Pinjarra, at the gateway to some of Western Australia’s biggest tourism destinations, where two service stations that sit directly opposite each other are on the market as a package deal.
The Caltex servos are positioned either side of the Forrest Highway and are the only service stations along the highway’s entire route.
Commercial Insights: Subscribe to receive the latest news and updates
Both are leased to Caltex Australia on new 20-year deals, and feature identical designs that each include 10 car fuelling bays, three truck fueling bays, 95 car parking spaces, 11 bus parking spaces, a food hall, caravan/trailer parking, an outdoor children’s play area and a dog exercise area.
Savills’ Chris Ireland, who is marketing the properties with colleagues Graham Postma and Paul Craig, as well as Dawkins Occhiuto’s Chris Jones, Walter Occhiuto and Andrew Dawkins, says the stations are a major stopover for a large percentage of the visitors to the region.
“On average, of the 15,000 vehicles passing the sites daily, 2996 of these vehicles turn into these service stations, with heavy vehicles accounting for approximately 11% of the total traffic count,” he says.
Both stations also feature significant food offerings, with food halls that include Miami Bakehouse, Burger Edge, Spice Paradise Express, Sabra’s To Go and Chook Bro’s.
“Both stores also incorporate the new Caltex corporate-branded ‘Foodary’-style concept, with Boost Juice taking partnership,” Postma says.
The sites have an estimated combined passing net income of $2 million annually, and also have scope for further development, with each site enjoying a further 25,000sqm of surplus land
The service stations are being sold via expressions of interest, which close at 3pm on Thursday, May 24.