A LOCKYER Valley petrol station has secured new owners after being listed for sale since before February.

The Coles Express Shell Service Station, located at 73 Railway Street, Gatton, sold on May 25 to a buyer not local to the region.

The sale was finalised following an auction, in which a fuel and convenience retail real estate investment trust offered to purchase the business for $5.1 million.

Since its construction four years ago, the petrol station had been owned by its developer.

The Gatton Star understands the business will continue to be tenanted by the Coles Group for at least the next six years.

Extracted from The Chronicle