Ian Wyles Auctioneers expects strong national interest in what has become one of the most sought-after - yet extremely scarce - property investments: a petrol filling station that is among the lots for the company’s sale on October 23 at 11am at the
Part of a deceased estate, the petrol station is at 31 Lorne Street in Estcourt central, next to the R103 and close to the police station and high school. The R103 is a busy regional road that used to be the main road between Joburg and Durban.
On the ground level of the 1500m² property are two islands with double pumps, two islands with single pumps, two canvas awnings and car wash facilities. There is also a retail outlet, kitchen, storeroom and toilets, all on concrete paving. On the upper level is a two-bedroomed residential unit and a large three-bedroomed apartment with two bathrooms, two kitchens and two lounges.
Andrew Giddy, property manager for Ian Wyles, says the strong demand for filling stations by property investors stems from the fact that fuel retailing is one of few industries still relatively recession-proof.
“This sector has grown consistently in recent years and has survived ratings agencies’ downgrading, poor performance by the rand and the country’s negative economic growth rates.
“Service stations also provide additional profit opportunities, such as convenience stores which have become increasingly popular for quick purchases not only by motorists but also locals. The residential component of this property is unusual and adds rental appeal to the package on offer.”
Estcourt is less than 7km from the N3 and is on the route of large numbers of tourists drawn to attractions such as historic battlefields, game reserves, parts of the Drakensberg and business visitors to the town’s industrial operations.
There are four 23000 litre fuel tanks at the filling station for which the operating agreement terminates at the end of the first quarter of 2025.
For more information and details about online bidding, contact Giddy at 082 601 9278 or email firstname.lastname@example.org.