Caltex service station & Vibe store sold in WA

JLL has sold a 100% freehold interest in Lot 104 Russell Road, Henderson, a brand-new 24-hour Caltex truck and car fuel station and Vibe convenience store, on behalf of national commercial property developer Accord Property.

JLL’s Brett Mathanda and Sean Flynn were appointed joint exclusive selling agents with Transact Capital and introduced the purchaser on the back of a five-week selling campaign.

The development of this facility has marked an important milestone for the Australian Marine Complex (AMC), being the first of its kind since the precinct’s inception in 2003. It caters to the refuelling requirements of both heavy haulage and light vehicles, plus the convenience retail needs of the entire AMC, being one of only two specialist naval ship building and marine industries precincts in the nation.

Lot 104 Russell Road, Henderson is therefore perfectly placed to provide critical support to a myriad of marine focussed industries for years to come.

JLL Director, Industrial and Logistics Mr Mathanda said: “The property provides income security via a long-term lease to Vibe Petroleum with over 13 years to run and the associated rental growth.”

“We were very pleased to have achieved this result on behalf of our client. The campaign produced over 70 enquiries and multiple formal offers. The strong interest in the property is reflective of the continued increase in demand for high profile investment opportunities with income security,” added Mr Mathanda.

JLL Senior Director, Capital Markets Transactions Mr Flynn said: “We weren’t surprised this opportunity was well received being a newly constructed Caltex fuel station and Vibe Convenience store which effectively delivers a one-of-a-kind offering to Henderson and the AMC. Also having proximity to Development WA’s new Orion Industrial Park, public boat ramps, boat storage facilities, Coastal Motocross Club and Cockburn International Kartway will generate a lot of reasons for regular client visitation.”