Sydneysiders’ reluctance to use public transport in the wake of COVID-19 has encouraged an investor to test the market with their Lower North Shore, BP-leased petrol station. LJ Hooker Commercial Sydney co-Director Steven Kruyer is marketing the BP petrol station for sale by auction located on 498 Willoughby Rd, Willoughby. 

NSW Transport data showed there were 32.5 million trips on trains, ferries and buses in December, approximately 44% below the same month in 2019. In comparison, the transport regulator estimated road traffic had declined by 4%, year-on-year.

LJ Hooker Commercial Sydney co-Director Steven Kruyer is marketing the BP petrol station, located on 498 Willoughby Rd, Willoughby. It will be auctioned on Thursday 25th March.

In addition to the current lease, Jasbe Petroleum Group, operating as BP Willoughby, holds three, five-year options on the 803sqm site.

“As an essential service opportunity, we’re anticipating a strong level of interest for the station, which holds lease options until 2039,” said Mr Kruyer.

“Sydneysiders have shown a clear preference for private vehicle usage over the last year, making well-positioned petrol stations such as this, a blue-chip opportunity for long-term investors.”

Situated only eight kilometres from the city, Mr Kruyer said the site would also appeal to investors seeking to landbank for future redevelopment.

“The site is located on a prominent corner in Willoughby and is zoned for medium-density residential development. Being in a sought-after pocket of the Lower North Shore, we’re anticipating landbankers will recognise the future opportunities of the site, as well.”  

The site generates a substantial rental return with fixed three-percent yearly increases. With the exception of land tax, the tenant pays all outgoings.

For further information and to request an Information Memorandum on the site email the marketing agent Steven Kruyer at LJ Hooker Commercial Sydney via the contact form below. 

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