Interest rates, finance blockers to blame for drop in commercial sales as cheese factory still on market

An award-winning business in southwest Queensland which comes with a house and more than 30 acres of farming land is still on the market. Its selling agent reveals why.

The beloved Stanthorpe Cheese Factory, in all its glory, has remained on the market since mid-2023.

A popular cheese factory in the state’s southwest has made it through a competitive market of commercial sales with its owners still holding out hope of finding a successor.

Stanthorpe Cheese Factory at Thulimbah has been a staple in the Southern Downs community since it began as a small enterprise two decades ago.

It hit the market around mid-2023 after its current owners, Wayne and Julie Hope decided it was time to retire from their beloved business.

Mrs Hope previously told Stanthorpe Border Post their award-winning cheese had become one of their greatest achievements.

“It was really a matter of us believing in the cheese and we just started entering it into competitions, which really helped to validate how good the product was,” Mrs Hope said.

An aerial view of the 15.38 hectare property. Photo: Better Homes and Garden Real Estate

The business was previously listed through Sage Business Sales with an asking price of between $2.2m to $2.4m and has since been taken on by Better Homes and Gardens Real Estate selling agent Julie Clark, with an asking price of $2.3m.

Ms Clark said the cheese factory wasn’t the only commercial business which was proving a challenge to sell, attributing the main issues to interest rates and the difficulty in obtaining finance.

“I’ve been hearing from a lot of people about the difficulty in accessing loans because banks put up barriers for rural commercial property,” she said.

“The issue is with anything that’s over 100 acres, they’re asking that you produce business plans which is very difficult.”

Despite the commercial market challenges, Ms Clark said the cheese factory offers a range of possibilities to expand, with the business boasting an impressive kitchen.

Inside the impressive commercial kitchen at Stanthorpe Cheese, located in Thulimbah. Photo: Better Homes and Gardens Real Estate

“It’s just about finding the person (to take on the business),” she said.

The cheese factory also operates an adjoining cafe, souvenir and gift shop and comes with seven cold rooms.

Business aside, the willing buyer will also inherit a small dairy, renovated 3-bedroom home, machinery shed and 38 acres of farming land.

See the full listing here.

Originally published as Interest rates, finance blockers to blame for drop in commercial sales as cheese factory still on market