'Rare' industrial site for sale, investors eye opportunities
ONE of Rockhampton's high-profile industrial properties is up for sale, with a number of investors eyeing growth opportunities in Central Queensland taking a keen interest.
The property at 1-17 Knight St, Park Avenue is less than a kilometre from the city centre. It is zoned low-impact industry and located within Rockhampton's Priority Infrastructure Area.
Built on a 1.92ha block, the 3400sqm industrial building is known as Liberty Steel Metalcentre, formerly OneSteel Metalcentre.
It supplies steel products to key industries including construction, fabrication, manufacturing, mining, residential construction and rural.
The site, adjacent to the Bruce Highway, is marketed by Ray White Commercial Gold Coast agent Michael Willems, who was proud to offer this exceptional opportunity to purchase a quality freehold investment in Rockhampton.
"Properties of this calibre are rare, especially in prime regional centres such as Rockhampton,” said Mr Willems.
"The strength of the tenant, and the annual review structure, will appeal to institutional investors and private investors alike.
"The industrial building also has a low site coverage, so that offers a lot of future potential for this property.”
Mr Willems said Rockhampton was at the heart of new activity emerging throughout the region, which had been kept afloat by renewed mining and infrastructure spending.
"Rockhampton is earmarked as a major fly-in fly-out zone for the proposed Adani coal mine, and that's driving some of the activity,” he said.
"Business confidence is also supported by the significant infrastructure spending on local projects, such as the Capricornia Correctional Centre and the Shoalwater Bay Military Training Area.”
The property has a net annual income of $594,703 plus GST on an existing 10-year lease, which expires in 2024. There are two further options of five years each.
Leased by Liberty Steel, the lease is also supported by parent company, the GFG Alliance, a UK-based group. Liberty is Australia's only manufacturer of steel long products.
The auction will be held at 11am Friday, July 5, at Ray White Corporate Offices on Level 26 at 111 Eagle St, Brisbane.