Stonebridge Property Group has been exclusively appointed to sell the BP Westernport Service Centre, a secure and land rich service centre investment in Melbourne’s south east growth corridor (the ‘Centre’, the ‘Property’). The Property occupies a substantial 19,862 sqm* landholding with strong underlying land value and is secured by net leases to BP, Carl’s Jr. and Souvlaki GR.

The Property occupies a prominent corner site providing exposure to over 18 million vehicles per annum1 and 275 m* of total frontage to two major arterial roads. The Centre is 100% occupied by BP, Carl’s Jr. and Souvlaki GR, all on net leases and all with fixed rental increases providing strong WALE of 8.1 years (by income).

Situated in the heart of Melbourne’s south east growth corridor within Cranbourne West, the Centre is strategically located at the gateway of State Significant Industrial Land (SSIL) as identified by the state Government. These SSILs will act as major freight, logistics and manufacturing hubs, connecting the CBD and Port of Hastings and will greatly benefit Westernport Service Centre through continued growth.

Justin Dowers commented “Westernport Service Centre benefits from its strong underlying land which underpins most of its value. As the area continues to expand and develop, we expect the land value to continue to grow and provide future opportunities for redevelopment.”

Kevin Tong commented “Cranbourne West has undergone and continues to undergo substantial development and intensification. Westernport Service Centre is a major beneficiary of this growth, especially with its position on the corner of the two arterial roads into the region being Western Port Highway and Thompsons Road.”

Rorey James commented “The Centre provides a highly secure investment being anchored by 3 national/chain tenants in BP, Carl’s Jr. and Souvlaki GR, all on net leases. The lease structures provide excellent protection against outgoings increases and fixed rental increases across the board.”