Former Karumba prawn farm waterfront site listed for sale
A former prawn farm in Queensland’s Gulf Country has hit the market following the closure of its long-term operator A.G. Raptis (Karumba), with FTI Consulting acting as administrator.
Positioned on the southern edge of the Gulf of Carpentaria in Karumba, the property combines direct water access with established industrial facilities, including seafood processing and cold storage, warehouses, workshops, offices, fuel infrastructure, accommodation and residences.
Colliers’ Cairns managing director, Stacey Quaid, says the property’s scale and waterfront position make it a particularly unusual offering for the region.
“This unique waterfront holding offers a rare opportunity to acquire or repurpose a strategically important asset in northern Australia,” she says.
“It’s ideally suited to owner-operators, including port users, marine service providers, seafood processors and mining logistics groups seeking a functional, ready-made base of operations.”
The holding spans about 3857 hectares across 13 freehold titles, plus about 1.5 hectares of marine lease areas containing wharf facilities. The portfolio comprises properties at 58, 60, 70 and 72-84 Yappar Street, 1 Massey Drive and Lot 2 Norman Street, and can either be acquired as a single package or as individual or grouped lots.
Fuel and industrial infrastructure
At the centre of the offering is a fuel storage and distribution facility with capacity of about 4.5 million litres. The infrastructure is configured to receive and deliver fuel by both road and water, potentially opening the site to marine, logistics, resources and supply-chain users.
The property also contains about 5870 square metres of office, warehouse, cold-storage, workshop and ancillary space.
In addition to the industrial offering, there is an accommodation component which includes a self-contained complex with 10 bedrooms and en suites, along with two separate residential dwellings. These facilities could allow an incoming operator to house workers on site or provide additional flexibility as part of a broader redevelopment strategy.
“The scale and scarcity of the improvements present a compelling opportunity for investors and developers, with potential to repurpose or diversify into commercial, industrial, tourism or accommodation uses, subject to council approval,” Quaid says.
“Given its strategic attributes, the property has tactical appeal for energy and food security, particularly in the context of the increasing focus on the global importance of northern operational infrastructure, including border and fuel security.”
Strategic gulf logistics gateway
Karumba is a specialised regional centre serving commercial fishing, export logistics and resource-related industries, which means 84 Yapper Street is not out of place. Despite its relatively small population, the township acts as an important gateway for Gulf fishing operations and the movement of cattle and minerals.
“There has already been strong interest in the property from a wide range of operators, investors and developers,” Quaid says.
“Karumba holds significant importance as a gateway for commercial fishing operations and the export of cattle and minerals, supporting both regional and state supply chains.”
The property is being marketed through an expressions-of-interest campaign closing at 4pm on Tuesday, September 8.
