CBD development block approved for units for sale for $1.05m

The development once constructed would help alleviate some of the city’s increasing rental demand

Vanessa Jarrett and vanessa.jarrett@capnews.com.au

less than 2 min read

September 3, 2020 - 1:00PM

35 Alma St, is for sale for $1.05 million.

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A DEVELOPMENT-ready block of land in Rockhampton's CBD has been put on the market for $1.05 million.

The site, 35 Alma St, has current Rockhampton Regional Council approval for 13 quality units.

The site has a wide 50m frontage to Alma St and a 50m frontage to Bolsover Ln

The development includes eight double storey units with two bedrooms and five ground floor units with one bedroom.

All units have a single car lockup garage.

Artist's impressions of a 13-unit development proposed for Alma St.

The application was submitted to council for approval in 2017 by Gracemere Survey and Planning Consultants.

The block was placed on the market a month ago, with Kas Woch Real Estate.

Principal Kas Woch said it was a good size block at 2,529 sqm.

"It's a good opportunity for a developer to walk in and pick up parcel of land ready to go," he said.

Rockhampton's rental vacancy rate fell to 1.4 per cent in April as rentals became very hard to come by.

"I think our rental demand at the moment is phenomenal, there is very little to rent in Rocky," Mr Woch said.

"That change has come in the last six to nine months."

Artist's impressions of a 13-unit development proposed for Alma St.

Mr Woch said units like this development were highly sought after and would be snatched up quickly once built.

"Units are not for everybody but there are people who appreciate the security of units and the lack of maintenance," he said.

"They suit changes in lifestyles and retired business people."

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