SOLD: M’boro petrol station sale fuelling excitement
JUST days before it was due to hit the market, a Maryborough petrol station has been purchased by a private investor for $2.7 million.
Metro Petroleum on Ferry St was purchased by a Sydney investor, according to an article on Ray White Commercial.
The property was sold off-market by Ray White Commercial Queensland Retail Sales father and son duo Stephen and Elliot Kidd.
“This is the fifth service station we’ve sold as a team so far this year and it’s clear that buyers are pumped whenever an opportunity like this comes to market,” Stephen Kidd said.
“Investor appetite remains strong for both on and off-market transactions. Service stations are being snapped up by investors due to their long leases, the stability of the tenants, and the low-risk factor. It’s fair to say fuel and food remain COVID-proof.”
“As one of Australia’s oldest cities, the area has a rich and long history. Maryborough was historically one of only two ports on the eastern coast of Australia.”
Elliott Kidd said the site offered a current net income of $195,500 per annum.
“Previously trading as a BP, Metro snapped up the business when the previous owner/occupier was looking to retire,” he said.
“Their discount fuel and quality food offering is proving a hit with Maryborough locals.”