Two Puma service stations hit the market in WA

IT IS fuel steam ahead for investors as two Puma service stations hit the market in WA, one at 194 Canning Road in Lesmurdie (above), the other at 96 Great Eastern Highway in Sawyers Valley.

The two opportunities are marketed separately by Ray White Commercial (WA) Director Stephen Harrison and Property Advisory Manager Brett Wilkins.

Mr Harrison said the asset on the Great Eastern Highway represented a real opportunity for buyers to secure an investment purchase that came with excess land.

“It’s not every day an investor has the chance to purchase an investment property that’s leased to a blue-chip, international tenant, like Puma Energy Australia,” he said.

96 Great Eastern Highway – aerial view.

“The property comes with a 9+ year lease and produces $185,000 p.a. net income, plus a CPI increase in March.

“The cherry on the cake with this one is, of the 2.38ha* site, you get 2ha* of undeveloped land. This offers investors tremendous upside for future development and the land is zoned as Rural Residential 2.

“The property is within Sawyers Valley, which is 36km east of Perth CBD, but also comes with good street frontage to Great Eastern Highway, of some 100 metres.

96 Great Eastern Highway.

“The site offers a convenience store/offices, a main fueling canopy and a truck fueling canopy, with expressions of interest closing at 5pm (AWST) on Wednesday 13 March.”

Mr Wilkins said the second asset on Canning Road (below) was a sound investment decision and would appeal to a number of potential buyers.

“Puma Energy Australia is tenanted for another eight and a half years, plus options to extend, so $2.75M would make a sound investment,” he said.

“The asset currently produces $181,125 p.a. net return and that income will then increase on 23 March to $187,564 p.a net return.

“Not only do you get a green title property with an international petroleum giant on a long-term lease, but improvements also include a convenience retail shop, with a fuel canopy.

“With a land area of 1,634sq m*, the property is just 21km* from Perth and because of its prominent corner position, is passed by around 13,000 cars every week.”

*Approximately.