Near-new Ipswich service station up for sale

COLES Property Development are looking to offload ownership of the Shell Coles Express service station adjoining Silkstone Village Shopping Centre.

The site, 73 Blackstone Rd, has passing traffic on all four sides, thanks to the shopping centre entrances.

The lease on the site will continue on a 10-year agreement to June 2029, with options to 2049.

The property is set to go under the hammer through Burgess Rawson's at a portfolio auction.

Coles Express, Silkstone is up for sale as a near-new business.
Coles Express, Silkstone, is up for sale, not long after its construction. The sale does not include the business. Contributed

 

Company director Jamie Perlinger said the property would have a ready-made customer base, with Silkstone Village's Coles supermarket and specialty retailers providing ready-made clientele.

"You've got to go past this site in some capacity to get into the shopping centre," he 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."

 

Coles Express, Silkstone is up for sale as a near-new business.
Coles Express, Silkstone, is on the market. Contributed

 

Built in 2017, the station sits on a 1487sq m site.

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

"Being almost new, there are significant tax depreciation benefits, as well as the security of a long-term lease to Coles," Mr Perlinger said.

The auction will take place at Crown Casino's River Room at 11am on Wednesday, June 26.

Coles Express, Silkstone is up for sale as a near-new business.
Coles Express, Silkstone, is on the market. Contributed