Viva Energy has pounced on a service station investment in Mandurah, purchasing Lot 50 Mandurah Road, Meadow Springs for $7.28 million.

Comprising a total land area of 4,014 square metres, the Caltex station includes a Foodary convenience shop, as well as provision for truck refuelling on Mandurah Road, Lakelands.

The off-market sale was brokered through Richard Parry and Vincent Siciliano of LJ Hooker Commercial Perth and reflects a passing yield of 6 per cent.

At a glance: 

• A service station a Lot 50 Mandurah Road, Meadow Springs has been sold to Viva Energy for $7.28 million, reflecting a passing yield of 6 per cent.
• Comprising a total land area of 4,014 square metres, the Caltex station includes a Foodary convenience shop, as well as provision for truck refuelling.
• The off-market sale was overseen by Richard Parry and Vincent Siciliano of LJ Hooker Commercial Perth. 

Source: Ray White Commercial Perth

Joint Director/Principal Vincent Siciliano said the outlet was a "modern convenience" for passenger vehicles, caravans and boats while also accommodating trucks and larger vehicles, making it "a very strategic asset" along Mandurah Road.

“We consider the price was an excellent outcome for the Seller and no doubt a strategic addition to the portfolio for the Buyer, Viva Energy," he said.

“The owners have owned the property for many years and clearly it was an excellent outlet for Caltex.

"The site was redeveloped for Caltex a few years ago and they signed a new 15-year lease at the time.”

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