Dianne Edwards says the Rockhampton real estate market has been running hot all year

McArthur and Associates Property Agent says the Rockhampton real estate market has been booming in commercial sales and leasing. Find out what’s behind the boom here.

Dianne Edwards recently sold 38 Armstrong Street, Berserker, for $1.4m.

A Rockhampton real estate agent has described the local commercial market as “running hot”, thanks to low interest rates and investor enquiries.

Sales and leasing agent for McArthur and Associates Property Consultants, Diane Edwards, said the demand had remained strong throughout the year.

McArthur and Associates Property Consultants Diane Edwards.

“This is due to economic factors such as low interest rates and also an influx of investors from outside of Rockhampton capitalising on high yields that are on offer here which is great for growth in the region,” she said.

Ms Edwards’ recent sales include a fully tenanted office building at 38 Armstrong Street, Berserker, which sold for $1.4m on December 7 and a tenanted building at 155 Alma Street in September for $1.225m.

155 Alma Street sold in September for $1.225m.

More properties are under contract and due to settle in the next few weeks, including 187 Musgrave Street, Berserker ($1.135m), 25 Stanley Street ($1.365 million) and 22 James Street, Yeppoon under contract for more than $2 million to a Gold Coast investor.

“Leasing has also been steady with a two-year lease being signed on a warehouse at 48 Burnett Street, Berserker, with a conveyor belt repair company who are a major supplier to the mining and industrial sector,” Ms Edwards said.

“There is a shortage of industrial properties for lease so this company were very pleased to find an affordable site for their thriving business.”

48 Burnett Street, Berserker, has been leased to a conveyor belt company.

Other recent leases completed by Ms Edwards include a three year lease at 157 Musgrave St with a nutrition/healthcare business and leases at 151 Musgrave Street with a tobacconist and 164 Berserker St, Berserker, with a beautician.

She said she was also currently negotiating several leases on space in the office/retail sector within the Rockhampton CBD area and was actively seeking properties for sale and lease to service buyers and tenants in the region.

MORE NOVEMBER COMMERCIAL SALES:

• 141 East Street, Rockhampton City (Woollam Constructions building): Sold for $550,000 on 19/11 by McGrath Real Estate’s Todd Brandon
• 4/111 George Street (TAB store): Undisclosed price on 12/11 by Ray White Commercial QLD
• 15 Dooley Street, Park Avenue (new Containers for Change site): Sold for $1.15 million on 12/11 by Professionals Livingston and Molloy Real Estate’s Mark Molly
• 146 Gladstone Road, Allenstown (Shell service station): Sold for $2.735 million on 9/11 by Burgess Rawson and Associates