Substantial nationwide service station portfolio for sale

23 service stations throughout New Zealand on the market

An outstanding portfolio of 23 service station properties throughout New Zealand is being exclusively marketed for sale through Colliers International.

The NZ Energy Portfolio spans the length of the country from Paihia in the Far North to Invercargill in Southland.

Each property is in a high-profile location on a main arterial route or state highway, with many also having prime corner frontage.

The portfolio returns some $3.5 million per annum from leases to the country’s largest transport energy company, Z Energy, on 21 of the properties, plus two operating under the Mobil and Waitomo Energy brands.

Investors are being offered the opportunity to purchase any number of properties, from a single service station through to the entire portfolio.

Offers by way of deadline private treaty close at 4pm on Wednesday 24 April, unless the properties sell earlier.

Jason Seymour, Capital Markets Director at Colliers International, says the portfolio represents a truly significant opportunity.

“This is a chance to secure some of New Zealand’s most visible and well-frequented properties across a geographically dispersed area,” he says.

“Each service station offers exceptional tenant covenant, a prime location and a long-term lease with locked-in rental growth.

“The vendor is a private investor who has built up a substantial service station portfolio as Z Energy divested some of its property assets.

“Due to the portfolio’s size and scope, the vendor is offering significant flexibility to buyers. Whether you’re after one investment property or looking to acquire or add to a nationwide portfolio, there are options to suit.”

Seymour says one option is to acquire a single property as a standalone investment. A second option is to purchase more than one property, perhaps selecting a regional grouping of properties. Finally, investors can purchase the complete portfolio.

There are 11 properties in the North Island, including in the Far North, Bay of Plenty, Gisborne, Hawke’s Bay, Manawatu, Taranaki and Wairarapa.

The other 12 properties are in the South Island, with half in Christchurch and the remainder in Blenheim, South Canterbury, Otago and Southland.

The portfolio offers a weighted average lease term of 6.43 years and a combined 2018 contract rental of more than $3.5 million.

Rental reviews include fixed increases of 2 per cent to 2.5 per cent a year, with market reviews either on renewal and/or every fifth, sixth or seventh anniversary.

The freehold properties, which have a combined site area of 6.14ha, are as below:

  • Waitomo Paihia: A single 1,012sq m title at 140 Marsden Road, Paihia, subleased to Hamilton-based Waitomo Energy;
  • Z Whakatane: A 2,770q m site on four titles at the corner of Domain Road and King Street, Whakatane;
  • Z Fairy Springs: A 2,566sq m property on two titles at 23 Fairy Springs Road, Rotorua;
  • Z Gisborne: A single 3,028sq m title at 300 Gladstone Road, Gisborne;
  • Z Havelock North: A 700sq m property on one title at 30 Havelock Road, Havelock North;
  • Z Heretaunga Street: A 2,427sq m property on a single title at the corner of Heretaunga Street West and Southland Road, Hastings;
  • Z Stratford: A 3,036sq m property on three titles at the corner of Broadway and Regan Street, Stratford, Taranaki;
  • Z Marton: A 2,131sq m property on two titles at 166 Broadway, Marton, Rangitikei District;
  • Z Ferguson Street: A 2,521sq m property on one title at 374-378 Ferguson Street, Palmerston North;
  • Z Pioneer Highway: A 3,271sq m property on two titles at 676 Pioneer Highway, Palmerston North;
  • Z Masterton: A 2,182sq m property on two titles at 80 Chapel Street, Masterton;
  • Z Grove Road: A 2,706m site on two titles at the corner of Grove Road and Budge Street, Blenheim;
  • Mobil Riccarton: A 2,016sq m property on one title at 33 Riccarton Road, Riccarton, Christchurch, subleased to ExxonMobil subsidiary Mobil Oil New Zealand;
  • Z Addington: A 3,447sq m property on three titles at 250 Lincoln Road, Addington, Christchurch;
  • Z Templeton: A single 4,922sq m title at 720 Main South Road, Templeton, Christchurch;
  • Z Brougham Street: A 3,654sq m property on one title at 495 Brougham Street, Christchurch;
  • Z Bryndwr: A single 2,753sq m title at 52 Strowan Road, Bryndwr, Christchurch;
  • Z Linwood: A 2,193sq m site on one title at the corner of Linwood Avenue and Cashel Street, Linwood, Christchurch;
  • Z Caroline Bay: A 5,795sq m property on two titles at 62 Theodosia Street, Timaru;
  • Z Oamaru: A 1,357sq m property on two titles at 22 Severn Street, Oamaru;
  • Z Green Island: A 1,922sq m property on four titles at 185 Main South Road, Green Bay, Dunedin;
  • Z Mosgiel: A single 2,138sq m title at the corner of Gladstone Road and Quarry Road, Mosgiel, Otago;
  • Z Gladstone: A 2,858sq m property on one title at 455 Dee Street, Gladstone, Invercargill.



As the tenant on 21 of the properties, Z Energy supplies around 43 per cent of New Zealand’s total fuel needs across the Z and Caltex branded networks.

Z supplies fuel to retail customers as well as large commercial customers like airlines, trucking companies, mines, shipping companies and vehicle fleet operators.

Z is a publicly listed company on the New Zealand and Australian stock exchanges.

Information memoranda with rental and tenancy schedules for individual properties, or a summary of the portfolio, are available upon request from Colliers International’s Capital Markets team.


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The Waikato forest, Tregoweth, is located on 347ha just south of Te Kuiti in the King Country. It is easily accessible from Waimiha Road, which bisects the forest some 200m from State Highway 30.

“The King Country is well known for producing large trees and Tregoweth Forest, which is planted solely with radiata pine, is no exception,” says Searle.

“The crop mostly comprises older first-rotation stands, with a smaller area of mid-rotation stands.”

The Waikato forest, Tregoweth, is located on 347ha just south of Te Kuiti in the King Country. It is easily accessible from Waimiha Road, which bisects the forest some 200m from State Highway 30.

“The King Country is well known for producing large trees and Tregoweth Forest, which is planted solely with radiata pine, is no exception,” says Searle.

“The crop mostly comprises older first-rotation stands, with a smaller area of mid-rotation stands.”

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