The Hatton Vale Shell service station sold for $6.8 million.
The Hatton Vale Shell service station sold for $6.8 million.

SOLD: $6.8m price tag for Warrego Highway servo

THE Shell service station at Hatton Vale sold for the eye-watering sum of $6.8 million, making it one of the most expensive servos sold in the region in the past year.

Jamie Dewe from Burgess Rawson handled the sale and said the price reflected the location.

"It has good exposure and it is a brand-new building," he said.

The servo sold to a Sydney investor who will retain the Shell lease.

It is a 7,474sqm property with a highway frontage of more than 100 metres which guaranteed high daily traffic flow, predominantly comprised of heavy vehicles.

Why location is everything in real estate: Why location is everything in real estate
Why location is everything in real estate: Why location is everything in real estate

The property has a 10-year lease to an established multi-site Shell operator with options to 2050 and the new owner is expected to generate a net income of $550,000 annually.

"Alongside this asset's substantial depreciation benefits, the tenant paying all the usual outgoings as per the lease agreement, including maintenance, improvement and environmental costs, which is a huge plus," Mr Dewe said.

It is the third servo Burgess Rawson has sold in the region during the past year.

The Harristown Puma on Anzac Ave sold for $5 million and the Centenary Heights 7/11 sold in January for $4.9 million.

MORE STORIES

SOLD: $5.1m Lockyer Valley petrol station snapped up

Interstate investor snaps up service station for $4.9m

New petrol station instigates low prices