Local buyer snaps up massive Rocky warehouse
COMMERCIAL property in Rockhampton's heart continues to prove popular with investors.
A vacant warehouse with yard in a key industrial precinct is the latest to be snapped off the market following a national, state and regional campaign on behalf of Australia's largest pharmacy distributor, Sigma Pharmaceuticals Ltd.
Located in a key industrial precinct, 68 Hollingsworth St, Rockhampton sold for $815,000 +GST to a local owner-occupier.
Ray White Commercial's Dan Costello and Rockhampton branch's Andrew Leach also directly canvassed neighbouring property owners before the 4,047m sq block with yard was sold.
"Sigma were referred from within the Ray White Commercial network initially to provide our marketing recommendations along with advice to position the asset for sale.
"Listing the property in conjunction with Ray White Commercial Rockhampton's Andrew Leach, we received 12 enquiries during the marketing campaign from a mix of both investors and owner occupiers.
"This was due to the superior location and limited supply of similar stock within the North Rockhampton industrial precinct."
The confidence in the market reflects valuer Herron Todd White's April month in review which reveals Southern investors are driving strong interest in the Rockhampton, with local owners lining up to cash in.
Recent sales included the former Foodworks drive-in supermarket on Gladstone Rd for an undisclosed price on March 17 (before the flood) after it changed hands for $1.35m in 2004.
Ray White Gracemere's Wendy Houston believes movement in the residential market also reveals signs of a market lift after a Gracemere investor snapped up a 100-lot subdivision approved block.
After a decade on the market, a father snapped up 11 (lot 2) Lucas St for a $750,000 (ex GST) this month, with plans to develop.
Investment opportunities continue to pop up in the Rockhampton CBD, with a two-storey, three-bedroom home with small shed up for auction on Bolsover St.
The potential CBD redevelopment on 68 Bolsover St sits on 653m sq block with two-street frontage is surrounded by a number of other businesses with exposure onto the busy street.
Knight Frank will auction the property at 12pm Friday, April 21 at Level 2, 102 Bolsover St.