The high-profile BP 2go service station sits on arterial Jervois Road in the city-fringe suburb of Herne Bay.
Fully leased, trading as BP 2go Jervois Road, the site generates a net annual rental return of $150,491 plus outgoings and GST.
The service station has about four years to run on a 10-year current lease term, with further rights of renewal available through to 2046. The lease agreement includes built-in two-yearly rental growth of five percent, in addition to market rent reviews.
Open 5am to 11pm, seven days a week, BP 2go Jervois Road offers a range of petrol and diesel fuels, along with convenience retail sales and services including BPme - Pay in Car, an ATM and trailer hire.
Global fuel giant BP has operated in New Zealand since 1946 and today has more than 200 service stations throughout the country.
The property at 47-55 Jervois Road, Herne Bay, Auckland, is being offered for sale through Alan Haydock and Damien Bullick of Bayleys Auckland Central.
It will go under the hammer at an auction on Wednesday 7 December, unless sold prior.
“The site contains a small retail, office and amenities block with additional ancillary storage and utility components for the service station and vehicle access to the front. The balance comprises forecourt and canopy areas,” Haydock said.
“Constructed in the 1980s, the property has an A-plus grade Initial Evaluation Procedure seismic rating of 100 percent of new building standard.
“The site forms part of a small body corporate, comprising the commercial unit for sale along with seven residential units to the rear.
“This proven and popular site for a service station is afforded future flexibility through its Business – Mixed Use zoning under Auckland’s unitary plan,” said Haydock.
Bullick said the high-profile location on Jervois Road in Herne Bay was surrounded by a catchment of Auckland’s highest value homes and most desirable real estate.
“This position offers convenient access when travelling from any of the inner-west residential suburbs to central Auckland and is close to both on and off ramps to State Highway 1, which is located less than five minutes away by car.
“The service station also reaps the advantages of being handily located between the Herne Bay retail precinct and Three Lamps on Ponsonby Road.
“This area enjoys a good level of amenity, which has been further improved by the re-positioning of Three Lamps on Ponsonby Road and the refurbishment of the 1 Jervois development in the next block,” Bullick said.