30 year old petrol station at Haberfield sold for $4,800,000
Staff reporterDecember 7, 2020
A property leased to Metro Petroleum at Haberfield, Sydney has been sold for $4,800,000.
The 1151 square metre property is located at 163-165 Parramatta Road and has a new lease from 2016.
It is a recently refurbished site with new high speed bowsers that have been there for 30 years.
The property does have further redevelopment/rezoning potential (STCA) and the valuable redevelopment clause is in the owners favour with 50,000 cars passing daily.
The tenant pays all outgoings, including 100% land tax with a strong 4% annual increase with a net income of $288,000 per annum plus GST with a predicted net income of $336,919 in 2021.