An opportunity has come up for property buyers with vision to purchase two giant concrete tanks on an island off the coast of Australia.
The two properties at 19 and 21 Seaview Road, Kingscote are vacant apart from the huge concrete structures sitting on an elevated portion at the rear of each block.
Each property has a north facing level area of approximately 1400sqm fronting the street, which the listing states would be “ideal for building a substantial home along with additional accommodation such as a granny flat” subject to council approval.
The rear of the block is dominated by the water tanks, which take up about 800sqm each and were formerly part of an SA Water facility.
Two properties, each featuring a decommissioned water tank at the rear of the property, have hit the market with a price guide of $170,000 to $185,000 each. Picture: realestate.com.au/buy
Once used as reservoirs for the town of Kingscote, the largest on Kangaroo Island, the enormous structures now remain dormant, waiting to be brought back to life by a creative buyer with vision.
The listing suggests a multitude of potential uses for the water tanks, including storage for vehicles, boats or equipment.
Other ideas include potentially reimagining the cavernous spaces as a workshop studio or entertaining space, or a private court garden sanctuary or retreat.
Each lot contains a level area of approximately 1400sqm where a home can be built. Picture: realestate.com.au/buy
Selling agent Helen Spouse of Urban & Rural Partners said the current owner had intentions to repurpose the tanks but has had a change of plans.
“He's quite a creative guy and thought ‘I’ll just buy them’,” she said. “He had grand plans but his situation has changed.”
Ms Spouse said the structures presented potential buyers with a huge blank canvas.
“There’s a cement floor and cement walls so if you could construct a roof, you've got a big area to work with,” she said. “It gives you an opportunity to get creative.”
The large tanks act as a unique backyard conversation piece. Picture: realestate.com.au/buy
The current owner was prepared to assist buyers by creating an access point to the tanks after settlement, Ms Spouse said.
“He’ll get out with his concrete saw and cut a hole in them,” she said.
Given Kangaroo Island’s abundance of wildlife and its reputation as an open air zoo, Ms Spouse suggested the high concrete walls of the tanks could also be used for crop protection.
“On Kangaroo Island it's probably not a bad idea to use it as a veggie garden because possums, wallabies and kangaroos eat everything.”
The tanks were formerly used by Water SA, but have been replaced. Picture: realestate.com.au/buy
The properties are listed with a price guide of $170,000 to $185,000 each.
By comparison, vacant lots in town up to 800sqm have recently sold for about $80,000 to $100,000, but were much smaller and did not include any giant concrete tanks.
Kangaroo Island has a population of about 5000 people, and the main industries are tourism and agriculture, including sheep and cattle grazing, grain farming and a flourishing wine and boutique honey industry.
It’s also home to many pristine beaches, including Stokes Bay, which Tourism Australia named Australia’s best beach in 2023.
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