Two United Petroleum fuel and convenience retail outlets in Tasmania have been snapped up by separate private investors.

The United Petroleum site at 7 George Town Road, Launceston sold for $4.925 million while the United Petroleum at 89 Best Street, Devonport sold for $3.975 million.

Both properties sold on yields of approximately 5.9%.

The Launceston asset consists of a high-profile site of 1,998 square metres and is leased on a 20-year triple net lease to 2036 with options to 2056. The 1,834 square metre Devonport property is leased until 2034 with options for a further 20 years.

Both properties offered substantial depreciation benefits.- Learn more click here. 

The deals were brokered by Burgess Rawson’s Rick Jacobson, Jamie Perlinger and Matthew Wright in conjunction with Knight Frank’s Nicholas Bond.

Mr Jacobson said United Petroleum is a top tier tenant and one of Australia’s largest and fastest growing independent fuel retailers with more than 465 sites nationally.

“The tenant also owns and maintains all aspects of the fuel tanks plus equipment making these even more appealing to investors,” he said.

To request a sales analysis please contact the selling agents Burgess Rawson’s Rick Jacobson, Jamie Perlinger and Matthew Wright in conjunction with Knight Frank’s Nicholas Bond via the below contact details. 

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