A prominent metropolitan service station at 398 Hector Street, Yokine has been listed for sale, presenting investors with an opportunity to secure a long-leased convenience asset backed by global energy company Chevron.
Colliers’ Richard Cash and Aidan Austen have been appointed as exclusive selling agents for the 2,177sqm freehold property, which occupies a high-profile corner at the intersection of Hector Street and Flinders Street.
The property is being offered for sale as a going concern via Expressions of Interest.
Secure Income Backed by Chevron
The established service station is fully leased to Chevron Australia, trading as Caltex, until March 2034, generating a net annual income of $379,686 plus GST.
The lease incorporates annual CPI-linked rental growth and operates on a triple-net structure, with Chevron responsible for all outgoings.
Colliers State Chief Executive, Western Australia Richard Cash said the combination of secure income and a substantial inner-metropolitan landholding would appeal to investors.
“Opportunities to acquire well-located metropolitan service station investments of this scale are tightly held and highly sought after,” Mr Cash said.
“This asset offers investors secure cash flow supported by a global tenant, annual CPI-linked rental growth and a triple-net lease structure, with Chevron responsible for all outgoings.”
Future Flexibility Beyond 2034
While the existing lease provides investors with a secure income profile, the absence of further options beyond March 2034 creates a defined opportunity to consider the property’s longer-term future.
“Importantly, with no further lease options beyond 2034, investors are also presented with a clear pathway to future asset repositioning, redevelopment or ongoing occupation of the site,” Mr Cash said.
The site has operated as a fuel and convenience retail asset for decades and benefits from dual street access, 24-hour trading approval and prominent exposure to passing traffic.
Approximately 21,000 vehicles travel along Flinders Street each day, according to Main Roads data, supporting the location’s underlying trading fundamentals.
Convenience Assets Continue to Draw Capital
The campaign comes amid continued investor interest in fuel and convenience assets across Western Australia, particularly from buyers seeking established income streams and essential-service investments.
Colliers Investment Services Senior Executive Aidan Austen said recent campaigns had provided the agency with insight into current demand within the sector.
“The service station sector continues to attract strong interest from private investors, syndicators and high-net-worth buyers seeking reliable income and essential-service assets,” Mr Austen said.
“Our recent work on the Ampol South Bunbury campaign has provided valuable insight into current buyer sentiment and capital allocation trends within the market.”
Mr Austen said Colliers’ statewide investor relationships and experience within the fuel and convenience sector would help position the asset in front of active buyer groups.
“Combined with our statewide investor relationships and specialist experience in the fuel and convenience sector, we are well positioned to connect this opportunity with the most active buyer groups across Western Australia.”
Expressions of Interest
Combining a 2,177sqm inner-metropolitan landholding, secure income from Chevron Australia, CPI-linked rental growth and longer-term flexibility beyond the existing lease, 398 Hector Street represents a tightly held investment opportunity within Perth’s inner north.
398 Hector Street, Yokine is being offered for sale as a going concern via Expressions of Interest closing Thursday, 5 November at 2pm AWST.
The campaign is being managed exclusively by Richard Cash and Aidan Austen of Colliers.
