A shell servo near me (Metro Vic) that recently shut down was sold and being turned into a used car sales centre by the new owners. Whilst in some cases soil has to be decontaminated because of the fuel tanks, there are many different future uses for the land in the event the Service station ceases operation.
Whilst i'm bearish residential property market, i do not see the demand for commercial property (especially blank canvas ex servo sites) slowing down anytime soon. In the event of a sale, the sites would likely be sold at nicely re-valued levels which would represent handsome gains to the sites written down values. Kinda win-win scenario for SH
WPR Price at posting:
$2.41 Sentiment: Buy Disclosure: Held
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