Colliers to auction prime retail property on M1 anchored by blue-chip corporate tenants

A high-profile retail property anchored by blue-chip tenants and offering prime exposure to the M1 on Brisbane’s southern gateway is poised to be auctioned via a campaign undertaken by Colliers.

The property, located on a prime 6,004sqm corner site at 3765 Pacific Highway, comprises multiple tenancies including corporate leases to BP Australia, Wild Bean Café and Zarraffa's Coffee, which occupies a free-standing drive-through outlet on the site.

The retail asset offers a total net lettable area of 1,058sqm with direct exposure to more than 225,000 vehicles daily along the Pacific Motorway (M1).

Steven King and Ryan Chandler, both of Colliers Gold Coast, and Hunter Higgins, of Colliers Brisbane, have been engaged to auction the site on December 8.

“Retail assets of this calibre offer a consistently high performance year in and year out with security of tenure and are traditionally very tightly held,” said Mr King, the Colliers Gold Coast Director in Charge.

“The quality of the tenants, combined with both high visibility and accessibility from the M1, make this property a compelling investment opportunity.”

The property, which is located adjacent to Exit 26 northbound on the M1, has a projected net income of $715,000 per annum.

Redeveloped in 2013 with modern double-walled fuel tanks, the site is currently in the throes of a rebranding by BP which will be include a new $500,000 fit out with Wild Bean Café.

“The asset will likely suit a wide spectrum of investors consisting of high-net-worth private investors, private syndicates and funds,” said Mr Chandler.

“Despite global discussions surrounding the adaptation of electric vehicles, the petrol retail sector is still viewed as an incredibly strong asset class with all top-tier fuel brands actively looking to scale up operations by way of expanding volume of fuel stations.

“This blue-chip asset boasts strength and security to hopeful purchasers due to its leases being underpinned by corporate entities as opposed to franchisees.”

Colliers has been appointed by the vendor, Capgrow Pty Ltd, to auction the property.

The auction will be conducted in-room at the Colliers Brisbane office from 11am on December 8.