Why this rusted-out old petrol station is one of the most-searched property listings in Australia

A petrol station in a sleepy town is one of the most sought after property listings in Australia.

The old Shell petrol station in Speers Point, outside of Newcastle in New South Wales has generated interest from buyers around the country.

The rusty, graffiti-covered building has been laying dormant for decades and has intrigued potential buyers for its size and potential for both residential and commercial uses.

Ray White Newcastle agent Shaun Elms told realestate.com said the 809 sq m site had become a local landmark and was popular for wedding pictures.

‘It’s definitely a bit of a time machine, I’m sure locals are wondering what the heck you could do with it,’ Mr Elms said.

The site was one of the realestate.com’s most searched listings throughout Australia, and it is positioned just 400metres from Lake Macquarie in their eastern growth corridor.

The property has been owned by the same family for around 18 years and is zoned R3 Medium to high density, offering buyers a broad new canvas to create their dream property or thriving small business.

‘It’s interesting because there’s a local heritage order in place so the facade has to remain the same,’ Mr Elms said. 

The location will require a bit of work from the buyer to clean rubbish and old vehicles from the rear of the property. 

‘The auction bidding guide is from $395,000 which is obviously very well priced, but restorations won’t be straight forward and could be costly,’ Mr Elms said. ‘For example the old fuel tanks, which are contaminated.’

The petrol station will be auctioned at 10.30am on March 28.