30 year old petrol station at Haberfield sold for $4,800,000

30 year old petrol station at Haberfield sold for $4,800,000
30 year old petrol station at Haberfield sold for $4,800,000

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.

Tags: 
Retail Burgess Rawson Haberfield

Comments

Be the first one to comment on this article
What would you like to say about this project?