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United Petroleum sites go under the hammer

The United Petroleum service station in Mitcham, Victoria.A fresh round of United Petroleum service stations in NSW and Victoria are up for sale, with the hammer going down on December 6 and 7 this year.

December 6 will see the Tamworth and Yagoona sites auctioned in Sydney by BurgessRawson.

And on December 7 the auction will move to Southbank for the sale of the Mitcham, Hampton Park and Dandenong sites in Victoria, as well as the Blair Athol station in South Australia.

With guaranteed rental growths of 3.5 per cent and incomes from $140,000 to $275,000 annually, the sites come with 15 to 20 year leases plus options.

The Tamworth site is located at 419-437 Goonoo Goonoo Road on the New England Highway, while the Yagoona site is located at 45 Rookwood Road.

In Victoria, the Mitcham site is located at 208-212 Mitcham Road, the Hampton Park site at 1/75 Hallam Road on the corner of Enterprise Avenue, and Dandenong at 314-322 South Gippsland Highway.

The Blair Athol site is located at 367-369 Prospect Road, on the corner of Audrey Avenue.

This is the third round of United Petroleum auctions since September this year.

The Yagoona service station at 110 Rookwood Drive (on the opposite side of the street) was already sold in the September round of auctions for $4,820,000, showing a yield of 4.98 per cent.

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