Wyong Twin Service Centres, Wyong NSW
Property Overview and Strategy
- The property consists of two service centres which are positioned on either side of the M1 Pacific Motorway, the main road between Sydney and Newcastle. According to the RMS online traffic statistics, the road has a daily average traffic count of approximately 90,000 vehicles.
- The property is located 7 kilometres north-west of Wyong, on the Central Coast of NSW. It is approximately 65 kilometres south-west of Newcastle and 100 kilometres north-west of the Sydney CBD.
- Constructed circa 1990, the service centres are occupied by Ampol. Improvements to each service centre comprise stand-alone vehicle and truck refuelling areas encompassing the covered forecourt area, service station retail console areas.
- Ampol are currently undertaking a comprehensive re-development of the site, including renewal and re-configuration of the fast-food tenancies, forecourt and truck parking facilities. The project has a total spend of $37m and is scheduled for completion in late-2024.
- Australian Unity have agreed to extend the Ampol leases back to 20 years unexpired from 1st July 2024, and pay $1.65m per annum of additional net rent in return for a fixed contribution of $18.3m towards the re-development works.
ASSET INFORMATION
| Location | Wyong, NSW |
| Asset Type | Convenience |
| Lettable Area (m2) | 4,286 |
| Occupancy by Income (%) | 100.0% |
| Weighted Average Lease Expiry by Income (Years) | 20.3 |
| Year Constructed | 1990 |
| Last Refurbishment | 2024 |
| Major Tenant/s | Ampol |