Merewether petrol station heads to auction after receivership
A 2000-square-metre service station near Merewether Beach is going up for auction. It was placed into receivership.
The owners held this property for more than three decades. The property sits at 60-62 Patrick Street near Merewether Beach.
The property covers 2000 square metres. United Petroleum leases it until October 2030.
The property went into receivership. An auction is scheduled before the end of this year.
The site is expected to fetch several million dollars. Possible buyers include petrol companies, investors, and developers.
They are interested in its beachside location and development potential.
Why it mattersA beachside property sale after receivership is rare. It signals a possible development chance for a highly wanted coastal location.
AustraliaFor Newcastle property investors, a million-dollar beachside asset near Merewether Beach coming to auction in November offers a rare development opportunity.
✓ Claims checked against the source and corrected before publish. checked 4 h ago
