A prominent Caltex-branded service station at 398 Hector Street, Yokine in Perth’s inner north has been launched to market, offering investors a rare chance to secure a high-performing metro asset underpinned by a global tenant, while retaining full control beyond 2034.
Located on the high-exposure corner of Hector and Flinders Streets, the 2,177sqm* freehold site is securely leased to Chevron (operating as Caltex Australia) until March 2034. The property returns $363,684 p.a. net + GST and is being offered for sale via Set Date Sale, closing 2:00pm (AWST) Wednesday 27 August 2025, unless sold prior.
Sterling Property Senior Partner Jack Bradshaw, who is managing the campaign, said the property offered a compelling balance of income certainty and future optionality.
“This is a textbook example of a strategic metro landholding with income security now and long-term control for the future,” Mr Bradshaw said.
“Chevron is a global energy group, the site trades 24/7, and the lease delivers a ratcheted market review in 2029 yet the lease expiry in 2034 ensures the owner regains full control with no further options. That combination is incredibly rare.”
The fuel and convenience site has operated continuously for decades and features dual street access, 24/7 trading approval, and over 21,000 vehicles passing daily along Flinders Street (approx.). The improvements include a Starmart convenience store and DC Auto Centre, both sub-tenanted under the primary lease.
Chevron pays all outgoings, including management fees, with annual CPI reviews and a ratchet clause applying at the 2029 market rent review.
Mr Bradshaw said inner-metro fuel investments of this calibre are seldom offered.
“There’s a generational quality to this opportunity, it’s a substantial landholding, close to the CBD, and held under a globally backed lease that gives the buyer both cash flow and flexibility,” he said.
The property is being offered for sale as a Going Concern, with pricing guidance in the high $5 million to approximately $6 million, reflecting a net passing yield of 6.00% – 6.25% p.a.
Set Date Sale closing 2:00pm (AWST) Wednesday 27 August 2025, unless sold prior.
To register interest or request further information, contact Sterling Property Senior Partner Jack Bradshaw on 0439 095 336
