Gull likely to fuel interest
The premises of one of Auckland’s handful of city-fringe fuel stations has been placed on the market for sale. Brokers say the Gull Oil service station, at 384-392 New North Rd, Kingsland, has been pumping gas from the address for almost 20 years.
Now the property — but not the fuel retailing business — is being marketed for sale by auction at 11am on May 16 through Bayleys Auckland. It features in Bayleys’ latest Total
Property portfolio magazine. Salespeople Stuart Bode and Mike Bradshaw say New North Rd is a major arterial route linking Symonds St with the inner-western suburbs of Kingsland, Western Springs, Avondale and Blockhouse Bay.
“The New North Road Gull site is consistently busy throughout the day as it picks up commuters travelling in both directions,” Bode says.
“It is the centerpiece of a retail automotive hub on New North Rd, with a VTNZ motor vehicle testing premises, AA Lube automotive repair shop, and Beaurepaires tyre outlet. The horse-shoe shaped complex also sustains a Bottle ‘O branded liquor store and Subway food operation.”
Gull Oil has been a “disruptor” among the established New Zealand fuel brands since it burst on to the retail scene in this country in 1998 by offering low-cost petrol and diesel. Caltex Australia claims to be Australia’s largest transport fuel supplier — with some 1900 sites
The Gull 15 year lease commenced in August 1999 and is now operating under its first five year right of renewal, with four further five-year rights of renewal through to 2039. The lease currently generates an annual rental of $283,197 net. Twoyearly rental increases are linked to the CPI with an underwritten minimum of two percent and a maximum of 8 per cent.
Within the Gull building is a subleased Night and Day minisupermarket. There is parking for eight vehicles in front of the store.
The 288sq m building was constructed in 1999 as a Gull service station — complete with substantial 636sq m canopy, multiple pumps, and underground petrol storage.
Bradshaw says the rectangularshaped property had two entry/exit points off New North Rd, and sat on a unit title share of 5385sq m of freehold land, zoned mixed use under Auckland Council’s Unitary Plan.
“The service station canopy is a fairly substantial structure built of conventional steel framing on six columns and is clearly visible from the main road because of its height prominence,” Bradshaw says.
The retail block is about 45m from the road frontage, while the service station forecourt under canopy faces directly on to New North Rd.
Bradshaw says the main retail premises within the Gull complex was built on reinforced concrete foundations, with pre-cast panel walls and steel framing supporting an iron roof laid on steel purlins.
The retail frontage features extensive window glazing in aluminium joinery — with the rear of the premises containing a small manager’s office, chiller storeroom, and staff lunchroom.
Internal walls are lined with ceramic tiles with a ceiling-mounted air conditioning unit and recessed fluorescent lighting, says Bradshaw.