54 Riddoch Street, Penola, SA 5277 | Commercial for sale | OnTheHouse
 
FOR SALE
Price Reduced to $550,000

54 Riddoch Street
Penola SA 5277

Bedrooms: -
Bathrooms: -
Car spaces: -
Floor area: 310m2
Land area: 2200m2
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Rare Investment Opportunity in the Heart of Penola

Properties like this don't come on the market often.
Ideally located in the centre of Penola, directly opposite Heywood's Royal Oak Hotel and just around the corner from the historic charm of Petticoat Lane, this unique offering spans three titles and presents exciting potential for investors, developers, or business owners.
Formerly Penola's power station prior to the introduction of mains electricity, the site holds local significance and now offers a range of practical and versatile spaces.
• Lot 170 - Vacant allotment approx. 725m², perfect for future development (STCA)
• Lot 169 - Approx. 1,119m² featuring a large 14m x 8m shed with concrete floor and power includes a 123m² shopfront with an adjoining area suitable for an office or dwelling, complete with bathroom and bedroom (some renovation required) SCA
• Lot 138 - Approx. 356m², located on Julian Street.
The property is connected to mains water, offers generous storage options, and is positioned within walking distance to Penola's amenities, shops, and eateries.
Whether you're seeking to run a business, renovate and repurpose, or explore development opportunities, this is a standout property in a high-profile location.
Contact Brenton Leggett for all enquiries on 0438 344 042

Property Details for 54 Riddoch St, Penola

Building Type
Commercial
Floor Size
310m2
Land Size
2200m2
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About Penola 5277

The size of Penola is approximately 252.5 square kilometres. It has 14 parks covering nearly 11.5% of total area. The population of Penola in 2016 was 1592 people. By 2021 the population was 1622 showing a population growth of 1.9% in the area during that time. The predominant age group in Penola is 50-59 years. Households in Penola are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Penola work in a managers occupation.In 2021, 72.60% of the homes in Penola were owner-occupied compared with 67.40% in 2016.

Penola has 1,236 properties. Over the last 5 years, Houses in Penola have seen a 122.03% increase in median value, while Units have seen a 119.65% increase. As at 30 November 2025:

  • The median value for Houses in Penola is $393,884 while the median value for Units is $308,124.
  • Houses have a median rent of $260.
There are currently 12 properties listed for sale, and no properties listed for rent in Penola on OnTheHouse. According to Cotality's data, 59 properties were sold in the past 12 months in Penola.

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Brenton Leggett
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SAL Real Estate - Mt Gambier
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