High demand for commercial property after $5.65 million sale
ROCKHAMPTON is becoming a popular commercial property hotspot following the multi-million-dollar sale of a North Rockhampton fuel site last month.
The 1,102 sqm BP-leased fuel site on the corner of Richardson and Yaamba Rd settled in February for $5.65 million through Burgess Rawson.
The sale coincided with the commercial property experts’ latest listing at 152-156 Bolsover St, Rockhampton, ahead of its upcoming Flagship Portfolio Auction later this month.
This fully leased five-level office building sits on a 2,024 sqm double block and is tenanted to Queensland Health and CFMEU.
Returning a combined net income of $597,708 per annum plus GST, the CBD building underwent a major $2 million refurbishment in 2012.
Queensland Health has occupied the site for eight years and recently renewed its lease for a further five years, plus options.
According to Burgess Rawson Associate Director Jamie Dewe, more investors are seeing Rockhampton as a region that delivers a promising future.
“There is a lot more to Rockhampton than its beef,” Mr Dewe said.
“This is a region that boasts 80,000 people and is built on strong economic foundations of the mining and farming industries, offering unique investment opportunities that are second to none.
“The recent sale of the BP-leased petrol site is a fantastic example of this investment value, with the property secured on a 10-year lease to April 2027 plus options to 2037 and returning a net income of $381,694 per annum plus GST.
“Particularly with the latest interest rate cuts, investors are increasingly turning to commercial property assets as secure long-term investments that provide financial stability in the current market.”
The 152-156 Bolsover St investment will be featured at Burgess Rawson’s Flagship Portfolio Auction on Tuesday, March 31, from 11am in Sydney’s Doltone House.
For more information about this property, contact Jamie Dewe on 0410 350 273 or email email@example.com.