Toowoomba Ampol service station hits market through Cushman and Wakefield

A major developer has put his new service station on the market, and the campaign has already attracted interest from national and overseas investors.

National and overseas investors are circling a major service station in Toowoomba’s growing southwest corner.

Prominent Toowoomba developer Edward Hodge has listed his Ampol service station on Alderley Street in Harristown on the market, with the 3800 sqm asset expected to attract offers upwards of $5m.

Sporting a 10-year lease from national fuel retailer Ampol, the service station will generate its new owner $280,000 in net income per year.

New Ampol Service Station, Greenwattle and Alderley Street intersection. Developer Edward Hodge.

The property also features a development approval for a new drive-through eatery, which could be actioned by the buyer.

Cushman and Wakefield agent Daniel Cullinane said interest after the first week of the expressions of interest campaign had been strong.

“Hodgey is really active in the market and looking to underline the capital he and his partner have got in this asset,” he said.

The Toowoomba Ampol service station on Alderley Street in Harristown has hit the market through Cushman and Wakefield.

“It’s been up for a week, we’ve had 100 inquiries and those investors have come of all over Australia and overseas.

“There are some large and small investors as well as investment trusts that only buy service stations.

“The competition has intensified between those private investors and investment trusts, so it’s going to go well.”

The Toowoomba Ampol service station on Alderley Street in Harristown has hit the market through Cushman and Wakefield.

Mr Cullinane said the Alderley-Greenwattle intersection that the service station sat on was slated for a signalised upgrade in the coming years.

“Under the LGIP, the council says it will spend almost $4.75m on that intersection to signalise it, so that’s going to connect Coles Glenvale to Westbrook better,” he said.

“This corner will be really prominent as that catchment continues to grow.”