New Ballina service station goes under the hammer

IT WILL be auctioned alongside 13 other commercial properties later this month.

Burgess Rawson is set to auction this Ballina service station site in a 14-property auction in Melbourne on June 26.

BALLINA'S newest service station will go to auction this month.

The Metro Petroleum site, on the corner of River and Brunswick Sts, has a 15-year net lease ending in 2034, with options to extend that to 2054.

According to a statement from real estate agency Burgess Rawson, the property is expected to attract plenty of investor attention at the auction, which will include a host of other commercial properties from other regions.

The 1641 sq m site is close to the Ballina CBD and returns and annual income of $305,000.

It also boasts fixed 3 per cent net increases and all outgoings are paid by the tenant, including land tax.

Last month's Burgess Rawson investment portfolio auction, saw about $23million worth of properties sold to investors.

With a clearance rate of almost 86 per cent, Burgess Rawson director Shaun Venables said commercial property was still drawing significant interest from investors.

"Vendors are being realistic and that's giving investors confidence to put time into pursuing commercial investment properties knowing that they are not undertaking a pointless exercise,” Mr Venables said.

"The commercial market will usually remain fairly buoyant during more challenging conditions, particularly for quality leased investments such as those being offered to investors at this month's auction.”

The Ballina service station will go to auction along with 13 other properties at Melbourne's Crown Casino from 11am on Wednesday, June 26.