A BP-branded service station in Perth’s northern growth corridor has sold for $4.4 million, marking the strongest result for a service station transaction in Western Australia in the past three years.
Located at 2 Abello Boulevard, Jindalee, the property is ground leased to global energy company BP, which is listed on the London Stock Exchange. The lease includes fixed annual rental increases and is supported by the site’s position in a rapidly expanding residential catchment, making it an attractive prospect for long-term investors.
The marketing campaign drew more than 450 enquiries from across Australia and overseas, ultimately resulting in a sale to a private investor based in Perth. The level of interest reflected the ongoing appetite for securely leased, income-generating commercial assets.
This transaction sets a new benchmark for WA’s fuel and convenience retail market. It also signals strong investor confidence in service station properties, especially those underpinned by long-term leases and high-quality tenants.
The sale was managed exclusively by Colliers, with representatives from its Investment Services division overseeing the process. The result highlights the resilience of the sector, even as broader market conditions continue to evolve.
Industry analysts expect increased interest in service station investments through the remainder of the year, fuelled by stabilising economic factors and the prospect of easing monetary policy. As interest rates begin to settle and access to finance improves, more investors are re-entering the market with a focus on secure, income-producing properties.
Service stations remain particularly appealing due to their combination of strategic locations, strong tenant covenants, and predictable cash flow. These characteristics provide investors with a sense of security, especially in uncertain market conditions. The momentum generated by the BP Jindalee sale is expected to carry forward, driving increased transactional activity in similar asset classes across Western Australia and beyond.
This sale reinforces the view that fuel and convenience retail assets continue to be highly sought after, particularly those with long leases and ties to major operators like BP. The successful sale of the Jindalee site is a strong indicator of future market direction, pointing to ongoing confidence in this resilient and stable investment sector.
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