Investor snaps up service station for millions

A SYDNEY investor has snapped up a 7-Eleven service station in Toowoomba, just days before it was set to head to auction.

FOR SALE: The Seven-Eleven on James St, opposite Clifford Gardens Shopping Centre, will go under the hammer next month. Picture: Contributed

A SYDNEY investor has snapped up a 7-Eleven service station in Toowoomba, just days before it was set to head to auction.

The fuel station on James St in Harristown, directly opposite Clifford Gardens Shopping Centre, was sold in an unconditional sale for $4.164 million earlier this month.

Burgess Rawson agent Glenn Conridge said the listing was due to go under the hammer on May 8 before the lucky buyer swooped in.

FOR SALE: The Seven-Eleven on James St, opposite Clifford Gardens Shopping Centre, will go under the hammer next month. Picture: Contributed

"That (price) was exactly where the owner wanted to be," he said.

"There was definite interest from several bidders, one from Melbourne, Sydney and locally.

"This person jumped in and offered an unconditional sale."

The sale was nearly $1 million more than what the Brisbane-based seller James St Toowoomba Pty Ltd paid for the servo back in 2013.

The secured site still has another two years left on its lease with 7-Eleven, with a five year option as well.

FOR all the latest on property in Toowoomba, make sure you pick up the Real Estate Guide in the Saturday edition of The Chronicle.

Originally published as Investor snaps up service station for millions