Killarney petrol station may be the cheapest opportunity in Queensland
A petrol station in the rural Queensland town of Killarney has hit the market, and according to the agent, it may be one of the cheapest commercial opportunities currently for sale in the region.
“When talking freehold investment service stations, you could fairly suggest that around the $1million mark would be considered ‘low entry level cost’ and then when you add the value of the business opportunity to that equation, or even in this case with the service station business being closed it still has a ‘potential’ value to add on, and I feel that this property could well sell for half of what we consider low cost,” explains Chris Fort of Avanti Property.
“Property and land values are significantly lower than in urban centres, allowing investors to secure larger sites at favourable prices. This opens the door for renovation, subdivision or adaptive re-use – cost-effective expansion at a scale that’s increasingly hard to find elsewhere,” he adds.
Located at 35 Willow Street, the property sits in the centre of Killarney’s township and offers a low-entry chance for an owner-occupier or investor to get a foot in the door of a tightly held market. For purchase with vacant possession, the generous 2021-square-metre allotment offers strong street exposure and flexible zoning, which lends itself to a range of uses, including retail, medical, trades or to continue as a petrol station.
Investors will also benefit from passive rental income from the workshop at the rear of the property, which delivers $200 per week or $10,400 per annum.
Fort says affordability is the headline, but the long-term fundamentals are just as compelling.
“Killarney’s small but steady rural population creates strong opportunity for commercial operators, as many essential services remain underrepresented in the area,” Fort says. “With consistent demand from both locals and the surrounding farming communities, businesses in sectors such as health, aged care, light commercial and retail can thrive with limited competition.”
Enquiries about the property have been strong, with Fort adding that the ideal buyer will be someone who wants to reopen the petrol station and add a food and beverage component to the business.
Killarney also carries a fascinating chapter of Queensland history. On November 22 1968, a devastating tornado tore through the township, leaving only 27 of the town’s approximate 240 homes standing. As a result, much of Killarney’s architecture dates to after 1968, creating a unique blend of heritage landmarks and more contemporary buildings.
Expressions of interest close at 2pm, Monday, December 15.
