The property housing a national-brand service station on a long lease has gone up for sale in a strategic location on the South Island’s West Coast.

The prominent site in central Greymouth has for over a decade been home to a Z service station. As Z Energy’s only West Coast fuel outlet, Z Greymouth serves the region’s largest town, which is a gateway to some of the South Island’s best known tourist destinations.

The site for sale has been home to a service station since the 1950s. It generates a net rental return of $85,014 plus outgoings and GST per annum.

Z Greymouth is open seven days a week, providing a variety of petrol and diesel fuels with 24/7 pay-at-pump and pay-in-app options, plus convenience retail, food and coffee sales, and LPG ‘Swap’n’Go’ services – as well as a truck stop for commercial operators.

Z Energy operates a nationwide chain of service stations under the Z and Caltex New Zealand brands. Around 2,300 people work as employees or contractors, or as part of its retail network, which serves around a million customers a week across New Zealand.

The business is part of Ampol Group, an ASX-listed independent regional transport energy company with origins dating to the early 1900s.

The property housing the Z service station at 15 Whall Street, Greymouth, is now being marketed for sale through Murray Madgwick and Alex White of Bayleys Real Estate as sole agents.

It will be sold by deadline private treaty closing on Thursday 25 September, unless sold prior.

The purpose-built service station complex encompasses a covered forecourt and retail convenience store, along with storage and office facilities. The approximately 570 square metres of buildings sit on a leasehold site of some 1,800 square metres, which is zoned Commercial by Grey District Council.

Madgwick said the site offered a commanding presence within Greymouth.

“The fuel station is well positioned to service local demand from a location within the town’s main commercial area, which encompasses traditional main-street retail, small industrial premises, and a range of service businesses catering to both locals and visitors.

“It also sits at the gateway to world-renowned tourist routes such as via State Highway 6 to Punakaiki and Nelson to the north, Fox and Franz Josef Glaciers to the south, and to Canterbury via Lewis Pass and Arthur’s Pass.

“As Z Energy's only West Coast fuel outlet, significant annual litreage goes through the forecourt here.

“The busy convenience shop further consolidates the performance of the site, as does the on-site truck stop catering to the needs of commercial operators,” Madgwick said.

White said the upcoming sale offered commercial property investors a rare chance to secure a strong cash flow from a high-calibre tenant at a relatively low cost.

“The property market here is small but can offer good opportunities for buyers looking for lower entry costs compared to larger centres.

“Greymouth is the main centre for the Grey District and the wider West Coast, acting as a hub for business, services, and tourism. It supports a mix of industries, including mining, farming, and a growing tourism sector, with the TranzAlpine rail link bringing in regular visitor traffic from Christchurch,” White said.

The West Coast is a bright star in New Zealand’s economic performance, with a resurgence in the mining industry driven in part by record gold prices, new coal mining opportunities, plus a number of more recent discoveries of specialist minerals for industry and technology sectors.

As the largest commercial centre in the region, Greymouth is already benefitting from this uptick in activity, with among the lowest unemployment rates in New Zealand and strong house price growth. Coupled with a strong tourism recovery, the West Coast is now one of the fastest growing economies in the country.