Chipper, hope you are not an accountant. Not sure your financial analysis is correct. What is the useful life of a locker bank? You say 5 years? I think it will be a little longer than that.
Personally, I think the whole locker offering will be much more complicated than simply a buck a delivery. The issue here is setting up a system that integrates with the online seller and includes the specific locker delivery locations in the online checkout. The access to the locker system will direct delivery traffic to specific logistics providers. You can expect pretty fierce competition in this sector.
Co-location with the coles set up seems a very sensible solution.
TZL Price at posting:
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