Roma property runs hot

COMMERCIAL property investors are increasingly looking to hit paydirt in Queensland's mining regions.

COMMERCIAL property investors are increasingly looking to hit paydirt in Queensland's mining regions as activity in the sector continues to ramp up.

In one of the latest deals, a 3085sq m fully-tenanted, industrial complex on a 15,000sq m site at Roma in Queensland's south west has sold to a Cairns-based investor for $4.85 million.

The property at 152 Roma Downs Rd was purpose-built for its long-term tenant, Weatherford - a Swiss-based global mining services company listed on the New York Stock Exchange.

It was sold with a 10-year lease in place plus two five-year options returning a rental income of $439,206 a year plus GST, reflecting a yield of 9.05 per cent, with annual 4 per cent increases.

Burgess Rawson's Pat Kelly negotiated the sale after the property was passed-in at auction. It settled this week.

"The firm yield indicates preparedness by buyers to look outside southeast Queensland for quality assets,'' Mr Kelly said.

He said investor appeal for commercial investment opportunities in the mining regions was growing.

"We have seen strong interest in the mining regions for investment property and we are presently marketing opportunities in Mackay, Townsville and Toowoomba as well as some of the smaller support towns.''

Mr Kelly said the Weatherford complex attracted "considerable'' interest from private investors Australia-wide.

"There's a massive amount of development happening in and around Roma and there's a growing focus on the area as a source of investment,'' he said.

The industrial complex was built to Weatherford's specifications and features a 1300sq m warehouse as well as 575sq m of office and laboratory space plus storage areas and an awning.

"The tenant operates in 100 countries and is listed on the New York Stock Exchange,'' Mr Kelly said.

"This attracted interest nationally along with the new building, 10-year lease plus options and the huge 15,000sq m site suitable for future expansion.''

Mr Kelly also has been appointed to sell a recently-developed complex with new 10-year leases in place to Caltex and Ezyquip in Roma.