SOLD: Multi-million dollar price tag for Bunnings building
ROCKHAMPTON'S old Bunnings site has sold for $10 million.
The prime site, located at 452-488 Yaamba Rd, was settled last month for a sale price of $9.9 million plus GST.
The buyers are a Sydney-based company, Brownfield Nominees Pty Ltd, who have previously operated under Greenacre Developments Pty Ltd. It is not known what their plans are for the building.
The building has been owned by Busways Ptd Ltd since 2001, who bought it for $2.2 million.
In June 2017 the land was valued at $4 million.
The site is zoned urban by Rockhampton Regional Council.
The site has been for sale for several months after the home improvement giant relocated further up the road to a larger building.
The former Bunnings site was listed through commercial real estate agent Savills.
According RP Data, the site sold on November 15 and settled the following day.
It is fully air-conditioned and described as "readily adaptable for use, with options including certain retail, large format retail or bulk goods uses, vehicle and outdoor sales, industry and self-storage uses”. It is 26, 626sqm with large frontage to Yaamba Road, the local section of Bruce Hwy with 9.2 million cars passing the site each year.
Bunnings moved to the old Masters site in March, which closed nationally in 2016, leaving the Yaamba Rd space vacant.
The Morning Bulletin previously reported possible plans for a new retail centre Coles but this has now fizzled out.
The Red Hill Homemaker Centre was sold to a Western Australian investment syndicate for $38 million in early September.
Other high-end sales in Rockhampton include the Siemens building on Alexandra St, which sold for $3.3 million in October.
The set of shops on Richardson Rd sold for $3.5 million in April. The old post office in East St where The Ranch Bar and Grill was sold for $4.1 million in September 2017. In June 2017, the Officeworks building on Fitzroy St sold for $6 million. Keppel Bay Plaza in Yeppoon also sold in 2016 for $28 million.
Current high listings include the current B&J Car sales site for $6.75 million on Musgrave St and the Korte's Resort at Parkhurst for 6.4 million. The old Joyce Mayne site on Yaamba Road is listed at $4.4 million while 74-78 Victoria Pde is selling for $4.5 million.