Pacific Highway 'monopoly' truck stop tipped for Coffs bypass win fetches $13m
A NSW North Coast truck stop positioned to benefit from the $2.2 billion Coffs Harbour bypass has changed hands for $13 million, as private investors continue to target defensive highway service assets tied to Australia’s growing freight infrastructure network.
The 24/7 Ampol Halfway Creek service station at 20 Kungala Road, about 40 minutes north of Coffs Harbour, sold on a 5.92 per cent yield. The result reflects intense demand for its position as the only northbound truck stop serving a 200-kilometre stretch of the Pacific Highway between Coffs Harbour and Ballina.
The deal follows a national expressions-of-interest campaign with Stonebridge Property Group’s Michael Collins, Tom Moreland, Aike Sakeson, and Rory Alexander, which generated 192 enquiries and seven competitive offers.
“Assets that combine a genuine monopoly position on a national highway with purpose-built infrastructure of this scale are exceptionally difficult to replicate,” says Moreland. “And that was clearly understood by the depth of investors who engaged.”
The 2.01-hectare freehold property includes a “state-of-the-art” 1358-square-metre fuel stop and convenience retail complex, featuring a Foodary outlet and three 90kL underground fuel tanks.
The infrastructure is specifically designed for heavy haulage, featuring a 220-square-metre truck canopy with six fuel terminals and 18 hoses, plus extensive parking for 16 trucks, including B-doubles. A separate 550-square-metre car canopy serves regular drivers with 12 fuel terminals and a 42-spot car park.
The asset is secured by Ampol on a 15-year net lease returning $769,152 per annum, with options extending to 2053 and fixed annual rent increases of 3 per cent.
The site is a primary beneficiary of the upcoming federal and state-funded 14-kilometre Coffs Harbour bypass, one of the final missing links in the Sydney-to-Brisbane Pacific Highway upgrade.
The project is expected to divert Pacific Highway traffic away from four existing northbound service stations in the Coffs Harbour CBD, funnelling approximately 12,000 vehicles per day out of the CBD and possibly directly past the Halfway Creek site.
The bypass, scheduled for completion in late 2026, will significantly cut travel times for interstate logistics, further cementing the site’s role in the national freight network.
“Strategic truck stop assets such as this provide extremely defensive fundamentals and this was reflected in strong bidder depth nationally,” adds Collins. “The sale reinforces that blue-chip fuel and convenience retail sites continue to attract genuine private investment capital and interest from astute long-term buyers.”
The surrounding geography further protects the property’s “monopoly” status; the site is flanked by the 5904-hectare Sherwood Nature Reserve and the Yuraygir State Conservation Area, which strictly limits future commercial competition.
While a Coles Express operates nearby, it services the southbound corridor, leaving the Ampol site as the dominant player for northbound freight.
Ampol operates more than 1800 locations nationally and has a market capitalisation of approximately $7.22 billion.
