Colliers in conjunction with CLARK Property Partners is pleased to present 519 Olsen Avenue, Southport, a strategic corner commercial property on one of the busiest Gold Coast intersections offering visibility to over 50,000* vehicles passing daily.
This commanding, multi-tenanted 6,688sqm site comprises a soon to be vacated service station long term occupied by Caltex, a vacant carwash and freestanding Goodyear Autocare on a recently renewed 5 + 5 + 5 year lease. The property furthermore offers surplus land with additional scope for further development such as a fast food pad site, showroom or warehouse.
This multi-tenant opportunity offers the ability for a strong diversified long term income stream. Passive investors will capitalise from the easy ability to obtain 100% occupancy based on pent up demand from service station and carwash operators currently seeking well positioned suitable locations, something which is non-existent here on the Gold Coast, particularly with existing operational sites. The ability to occupy with an additional income stream will suit potential owner occupiers for the service station.
Key investment highlights include:
- Expansive and irreplaceable 6,688sqm corner site*
- Building areas 850m2* GFA
- Fully Leased potential Net Income in excess of $500,000* per annum
- Three tenancies consisting, fully operational service station, Car Wash and Goodyear Autocare
- Goodyear Autocare headlease on a new 5+5+5 lease commenced 06/07/2020
- Caltex lease expiry 30/11/21, alternate tenant interest in hand
- Fully operational vacant car wash
- Existing original scheme in existence for additional retail showrooms/Warehouses
- Dominant position fronting major arterial roads Olsen Avenue and Southport Nerang Road
- Strategically positioned to capture exposure to over 50,000 vehicles per day
- Zoned mixed use ( Fringe Business)
- Situated amongst ALDI, Shell service station, Bunnings, Spotlight Commercial Centre and Ashmore City Shopping Centre
- Less than 3km from $5b Gold Coast Health and Knowledge Precinct
This is an extremely rare opportunity to acquire a truly well positioned asset which offers the investor or developer the rare opportunity to secure an established service station centre which can be re-positioned to offer a high yielding return.
519 Olsen Avenue, Southport, is for sale by 'Offers To Purchase' closing Thursday 21st October 2021 at 4pm.
A copy of the Information Memorandum and Due Diligence package is available upon request via exclusive agents, Colliers Steven King on +61 417789599 or CLARK Property Partners Steve Clark +61 400 338 434.
* Approximately.
~ outlines indicative only.
