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Pump up your portfolio with up to eight service stations

Pump up your portfolio with up to eight service station

An eight-service station portfolio with blue-chip tenant Gull with a weighted average lease term of 11 years represents an unrivalled opportunity that will provide long-term security for buyers in a market starved of future-proofed investments.

Often regarded as a prime example of a safe and secure property investment given the land extensive nature of service stations that sit within strong demographic catchments, the certainty on offer for purchasers with these sites makes for one of this year’s most highly anticipated investment opportunities, according to the brokers marketing the properties.

The eight sites are spread across the North Island from Wellsford in Auckland to Waipukurau in Hawke’s Bay and the properties can be purchased either individually or as a combined offering.

All are locked into identical 15-year leases to Gull New Zealand Limited, a wholly owned subsidiary of ASX-listed Ampol, that commenced in 2017 and expire in 2032. The lease terms offer annual fixed rental growth of the greater of either CPI or 2 per cent.

The total site area is 17,856sq m across the eight properties, returning $1,403,473 in net rental income. All above and below ground service station improvements are managed by Gull, making this a low maintenance, passive investment option.

Colliers has been exclusively appointed to bring these sites to the market and expressions of interest are to be lodged at the offices of Colliers, HSBC Tower, Level 23, 188 Quay Street, Auckland or via email to the nominated brokers before 4pm, Thursday 26 August.

Looking at the sites geographically from the top of the island, 207 Rodney Street in Wellsford, Auckland has a land area of 2,913sq m and returns $126,086 in net annual rent comprising $122,964 from Gull and $3,121 from the neighbouring Four Square supermarket, which uses the site for parking.

Nigel Ingham, Director of Colliers Whangārei, says Wellsford is a growth hot spot.

“This site represents the ideal bottom-drawer investment, while the continued urbanisation of Wellsford means it will enjoy healthy patronage for years to come,” Ingham says.

The 2,547sq m site at 258 Forrest Hill Road in Forrest Hill on Auckland’s North Shore is in a strategic location on a high-profile corner site returning a total of $343,462 in net annual rent. This is comprised of $205,662 from Gull and $137,800 from German Motors Limited operating as Auto Super Shoppe Forrest Hill.

Prominently placed, 125-127 Mokoia Road in Birkenhead, Auckland has a land area of 1,942sq m and returns $290,621 in net annual rent.

Heading south of the Bombay Hills, 59-61 Queen Street in Waiuku has a land area of 1,012sq m and a net annual rent return of $119,068.

Brokers from the South Auckland, CBD and North Shore offices at Colliers Matthew Barnes, David Burley, and Shoneet Chand all agree these properties represent a blue-chip purchase that will see buyers looking to acquire one, multiple or all of the properties on offer.

“Opportunities to acquire such a well-recognised, low maintenance portfolio or service stations of such significant size with attractive lease terms rarely come to the market,” the trio says.

“The land holdings on these sites offer potential for development in the future and we expect to hear from a wide-range of potential purchasers from across the region.”

15 Hampton Downs Road in Hampton Downs, Waikato boasts a land area of 4,133sq m and provides $108,243 in net annual rent, while offering great access from the motorway.

David Palmer, Investment Sales Broker at Colliers Hamilton, says this is a strategically positioned site for consumers.

“This location is the second-to-last petrol station off State Highway One before the Auckland regional fuel tax kicks in, making it a high-volume site,” Palmer says.

“Its proximity to the Hampton Downs Motorsport Park is yet another tick in the box for an attractive investment.”

The Gull site at Tauriko in Tauranga comprises 2,000sq m on land at 757 State Highway 29.

This is another split-risk investment with a total net annual rental income of $125,582 with $109,668 coming from Gull and $15,914 from Coffee Empire who operate a takeaway coffee service on the site.

Simon Clark, Managing Director at Colliers Tauranga, says Tauriko’s popularity and exceptional growth in recent years has boosted demand with many properties in the area tightly held.

“This high-profile site is situated on the busy State Highway 29 with high traffic numbers traveling in and out of town over the Kaimai Ranges to and from the Waikato,” Clark says.

“It is also close to the vibrant Tauriko Business Estate and new Tauranga Crossing shopping centre, while the upcoming Tauriko West residential subdivisions are nearby.”

The final two sites are in Hawke’s Bay with 814 Omahu Road in Frimley, Hastings, and 15 Herbert Street in Waipukurau.

814 Omahu Road has a land area of 2,308sq m and returns $192,780 in net annual rent. There is also a sub-lease agreement to Night ‘n Day Foodstore Limited for a busy convenience store located on the site.

15 Herbert Street has a land area of 1,001sq m and returns $97,631 in net annual rent.

Danny Blair, Director at Colliers Hawke’s Bay, says both locations enjoy significant traffic volumes due to their positioning.

“The Gull at Omahu Road is part of a tightly held area of Hastings with the nearby industrial, agricultural, and horticultural sectors providing plenty of potential customers. It is also only a short drive to the Hawke’s Bay Expressway,” Blair says.

“The Waikpukurau site offers easy access and is the first service station coming into central Hawke’s Bay when heading south on State Highway 2.”

Ampol, formerly known as Caltex, is an ASX-listed company with a market capitalisation of nearly $7 billion and has a network of 1,900 service stations throughout Australasia.

Gull petrol 1

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Nigel Ingham

Director | Whangarei


Nigel heads up Colliers NZ Northland business.

Nigel joined Colliers in Auckland in 1998, through his persistence and tenacity he quickly established himself as a key person in the market.

In 2003, Nigel was promoted and took on the responsibility of heading up the Colliers NZ, Auckland Industrial Business. He was instrumental in growing and developing the Colliers NZ Industrial business into the dominate agency that it is today.

In 2010 Nigel was promoted and relocated to China to take on the challenge to grow Colliers East China Industrial Business. At the time he started the team was positioned 5th in the market.  As well as learning to speak, read and write Chinese, under his leadership his team’s revenue compound annual growth rate was 57% and they became the dominate agency in East China.

In 2020 Nigel was offered the role to relocate to Northland to set-up and establish Colliers NZ Northland business and he jumped at the opportunity. Moved his family to Whangārei and launched the business Feb 2021.

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Matthew Barnes

Director | Investment Sales

Auckland South

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David Burley

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Auckland CBD

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Shoneet Chand


Auckland North

Shoneet has been involved in selling investment property for over 14 years and since 2015 he has been a Director in the Investment Sales Team at Colliers International, specialising in Investment & Development Sales across the wider Auckland region.

Over the past 10 years he has been one of the most successful investment sales brokers in Auckland with a track record of significant sales second to none. He has had considerable experience in dealing with international purchasers and has recently completed several deals with investors out of Asia, Europe and the Middle East. He has been involved in a number of large land sales and portfolio sales, including divestments for well-known brands like Z Energy, The Warehouse & Bunnings.

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He was the top broker at Colliers in the 2018 financial year and a finalist for the Commercial & Industrial Salesperson of the Year award, which is judged nationwide across all agencies. In 2019,  2020 & 2021 he was ranked in the top 5 brokers nationwide for Colliers and was involved in over $300million,  $325million & $500million of sales in each calendar year respectively. 

Over the past five years, he has transacted over $1.5 Billion dollars in sales.

Notable Transactions over $10m include;

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  • 2-4 Fred Thomas Drive, Takapuna -   $60,850,000
  • Albany Industrial Land Sale (2021) - $60,000,000+
  • 33 Corinthian Drive, Albany  -   $50,500,000
  • 21 Hobill Ave, Wiri - $42,100,000
  • 229 Dairy Flat Highway, Albany -   $33,000,000
  • Todd Industrial Park – Wellington -   $33,000,000
  • 9-11 Corinthian Dr, Albany -  $27,340,000
  • 44 Taharoto Road, Takapuna -   $27,270,000
  • 279-301 Lincoln Rd, Henderson -   $27,000,000
  • 11 Coliseum Drive, Albany -  $26,700,000
  • The Warehouse, Albany -   $26,400,000
  • LEP Childcare Portfolio-   $20,775,000
  • Farro Fresh/ASB Constellation Dr -   $25,500,000
  • Kmart Te Rapa  - $23,750,000
  • 1-11 Parkway Drive -   $21,000,000
  • Noel Leeming, Wairau Park -   $19,000,000
  • 5 The Warehouse Way, Northcote -  $19,000,000
  • 71 Apollo Drive, Mairangi Bay (2021) - $17,550,000 
  • Rapid Labels – William Pickering Dr -  $17,300,000
  • 7-19 Croftfield Lane, Wairau Valley - $17,280,000
  • 16 Dinning Road, Riverhead -  $16,500,000
  • 35-45 The Strand, Parnell -   $16,100,000
  • 44 Arrenway Drive, Albany (2021) -   $15,300,000
  • 151 Lincoln Road, Henderson -    $15,250,000
  • 51 Corinthian Drive, Albany -  $15,150,000
  • 7-21 Kawana Street, Northcote -  $14,998,100
  • 124 Bush Road, North Harbour -   $14,950,000
  • 550 Te Irirangi Drive, Botany -   $14,200,000
  • PlaceMakers, Albany -    $14,000,000
  • 24 Oteha Valley Rd Extn, Albany -    $13,300,000
  • 217-227 Archers Rd, Wairau Valley -   $13,250,000
  • 44 Arrenway Drive, Mairangi Bay -  $13,117,116
  • 6 Canaveral Drive, Mairangi Bay -   $13,000,000
  • 119-121 Onewa Road -   $12,750,000
  • 3 Monahan Road, Mt Wellington -  $12,680,000
  • 155 Wairau Road, Wairau Valley -   $11,500,000
  • 13 William Pickering Drive, Albany -  $11,400,000
  • 14-18 Lovell Court, Albany -  $10,500,000
  • WCDL Development on Onewa Rd -  $10,250,000
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David Palmer


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Simon Clark

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Simon is the managing director of the Colliers Tauranga office. With over 28 years in the industry, he is the most experienced and successful commercial broker in the region. He specialises in the sale of commercial and industrial investments as well as the lease of industrial properties. Throughout his long career, Simon has negotiated the majority of the largest transactions  in his chosen market and has delivered in excess of $1 billion in sales.

Simon works closely with other Colliers branches around New Zealand and in Australia to ensure that local investment listings have the best possible exposure nationally and internationally. He also has an extensive local  network including close relationships with private, corporate, Iwi and syndicator investors who come to him for his vast market knowledge and  to ensure they will find the best investment opportunities.

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Danny Blair


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Danny has progressively established his position in the Hawke’s Bay commercial property market as ‘the top broker’ across the region. He has been the lead broker on some of the largest transactions in the Hawke’s Bay property market over the last five years, including The Tomoana Food Hub, which sold in excess of $40M+ at a yield of 6.23%. This is the largest industrial sale in Hawke’s Bays history, Further sales include 37 Johnston Way, Hastings which recently sold at a record yield of 4.95%. Danny has sold in excess of $270M worth of commercial real estate within the Hawke’s Bay region alone.  In 2016, 2017, 2018 and 2020 Danny was awarded Colliers top broker in Hawke’s Bay.


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Tony Marsh

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