House with service station as neighbour

[eyaeyao]

Do anyone have issue with House/properties with service station as neighbour?

will that me some resale value impact by having a service station next door?

 

[The_Bludger]

Yes, I'd have an issue with it.

Smelly fumes, risk of explosion, noise, etc.

I wouldn't buy or rent next to a servo. Unless the numbers stack up of course, but even then, it would have to be a really, really good deal.

 

[Pa1nter]

If its an old service station,it will probably be classed as a lead site

 

[jeffb5ltr]

if really old or independant servo, it maybe demolished and turned into units in the not to distant future, Thats what happend to one down the road from me.

 

[Wunderbar]

Hell no! Like the other posters said - it will stink/busy/noisy. Plus - all those chemicals in the soil means that there is a remote chance the petrochemicals could leak onto your land as well - making your land unsafe and in trouble with the EPA. You do NOT want that to happen!

 

[BuildingBlocks]

I wouldn't want to live next door to one, but if it were a commercial building next to the service station that you wanted to buy (rather than a house) then that may be a different story.

 

[Wunderbar]

A service station site can only be used as a service station for commercial purposes unless you remove all the heavy metals in the soil - and that literally costs millions to do depending on the land size/depth.

 

[Sheryn]

Do anyone have issue with House/properties with service station as neighbour?

will that me some resale value impact by having a service station next door?

When you have the property valued, there will be an environmnental component of the valuation and they we most likely mark that as high risk and reduce the valuation accordingly.

I purchased a block of land behind a service station, there is a buffer of land between our block and the service station. On this block of land we built a duplex completed in 2009 which we have kept.

Personally, I would not buy next door to a service station on a main road.

Also I do think that when you go to resell there would be a number of people put off by the service station eg traffic, noise etc.

Our strategy is different to yours because we buy to build and hold.


Regards
Sheryn

 

[chilliblue]

A service station site can only be used as a service station for commercial purposes unless you remove all the heavy metals in the soil - and that literally costs millions to do depending on the land size/depth.

You would think so. However, there are still several sites in NSW that I have had to deal with in which the tanks were removed but no reparation undertaken.

Council had no idea and these sites were already rezoned.

Personally stay away if it is a residential investment. Why give a prospective tenant 9and in the long run a prospective buyer) any reason why not to take your property.

 

[Wunderbar]

Yes plenty of sites have had the tanks removed but haven't cleaned the soil. And the EPA will not let you build on the land unless you've cleaned it up.....why do you want to be the idiot doing that?

 

[jaycee]

Yes plenty of sites have had the tanks removed but haven't cleaned the soil. And the EPA will not let you build on the land unless you've cleaned it up.....why do you want to be the idiot doing that?

No one's talking about buying a petorl station though...

Someone has mentioned seeing petrol stations decommissioned and residential buildings put in place though, so I wondder what this means.

 

[Wunderbar]

It's all a relative cost. If it costs you $1m to clean up the site, but you can build a 20 storey tower on it - then that $1m of costs is just a rounding error.....whereas if you're trying to build 4 units/townhouses - that $1m additional cost just breaks the deal.

 

[jaycee]

It's all a relative cost. If it costs you $1m to clean up the site, but you can build a 20 storey tower on it - then that $1m of costs is just a rounding error.....whereas if you're trying to build 4 units/townhouses - that $1m additional cost just breaks the deal.

Don't know what it costs or means, but I'm pretty sure I've seen decommmissioned petrol sites reused in Perth not necessarily for large multistorey buildigns (?)

 

[Wunderbar]

I'm not saying you can't clean up the site. What I am saying is that the costs of cleaning up a site are huge for a small-scale development. If it's a large development, then the costs of cleaning up are nothing compared to the total value of the final project.

 

[jeffb5ltr]

The one i was referring to, was 12 units (Only two storey building front 3 storey back including carpark), Was also a few years back (6 - 7yrs) but the laws havent changed much just the amount its enforced and the cost of disposal. I think prices of units/townhouses in Concord 2137 would make it worth while to develop.

Upshot

I would not buy next to a running servo, A closed servo maybe if the price was right and there was no plans to redevelop the closed servo into a new servo (Especially a 24hr type or one with a McDonalds)

 

[darkage]

Children might have development issues if you havent had any yet..

Historical lead content in the soil and benzene in the air...

Health danger at the end of the day... probably better buys else where..

 

[beeroll]

Historical lead content in the soil and benzene in the air...

Benzene is not cool to have around. It's a known carcinogen, and according to the American Petroleum Institute, "it is generally considered that the only absolutely safe concentration for benzene is zero."

That was written in 1948, in a report commissioned by the industry putting benzene in their fuel...

Any petrol station is going to have residual benzene in the soil, and unlike lead, it's very prone to getting into the air, so just keeping away from the contaminated dirt won't keep you (or your kids) safe.

 

[Fudge]

It's all a relative cost. If it costs you $1m to clean up the site, but you can build a 20 storey tower on it - then that $1m of costs is just a rounding error.....whereas if you're trying to build 4 units/townhouses - that $1m additional cost just breaks the deal.

Geez your paranoid Wunderbar.

The question is based on residential next to a service station, not on the site of a petrol station.

Dependent on existing zoning for lot, you may be able to seek commercial / retail zoning even though town plan currently identifies it as being residential. Hell, with this next door, the density might be able to change from R600 to R150 (or whatever it may be)

This is a good way of increasing the value of the property by changing zones.

Has been done near one of my properties.

The busy road would also be attractive for an increased density for multi dwellings or a retail building.

And with regards to any contamination, the leaseholder and owner of the petrol station would be rammed and reamed, and then be issued with hefty fines for any environmental non conformance / event.

F

 

[electroinvestor]

if the price is right!

I would not buy next to a service station, nor a school, well below the road level or at a t-junction etc. unless it's a screaming bargain. Resale value is terrible.