A prominent corner property operating as a service station for 35 years is being offered to investors.
The 2016sqm corner property at 60 Poinciana Avenue, Tewantin, has operated as a service station since 1988 and fronts Poinciana Avenue and Moorindil Street.
Viva Energy Australia operates from the site as Shell Coles Express and Reddy Express under a 10-year lease expiring in 2033.
The agreement includes two further five-year options, which could extend the tenancy to 2043.
RWC Noosa and Sunshine Coast senior agent David Brinkley said the lease arrangement left the tenant responsible for operating costs.
“This is an ASX 200-backed commercial asset in the Noosa Shire,” Mr Brinkley said.
“Viva Energy pays all operating outgoings, council rates and water usage, and rent rises by a fixed three per cent a year.”
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The property includes a 245sqm shop, 200sqm forecourt canopy, fuel pumps, customer toilets and on-site parking.
RWC Noosa and Sunshine Coast agent Paul Butler said significant work had also been carried out on the property.
“The owner spent $350,000 in 2024 replacing the roof, repainting the building, renovating the toilets and installing new timber retaining walls which is a major benefit,” Mr Butler said.
The site provides access towards the Noosa River Ferry, Noosa North Shore and Double Island Point.
The property is due to be auctioned at Ray White’s corporate office in Brisbane on Friday, November 27.
