Demand for property driving Townsville market as investors hunt good deals

Developers are seeking sites for uses such as retail, service stations, fast food and health, while businesses are looking to own their premises.

Demand for property is continuing to drive the Townsville market as developers join investors and business owners-occupiers in the hunt for good deals, Colliers Townsville says.

But rising interest rates and the federal election has removed some of the heat, Colliers managing director Peter Wheeler says.

“It’s taken the madness out of the market, however, we are still seeing a lot of confidence in the market off the back of fielding some good inquiry for a mixed bag of property types,” Mr Wheeler said.

Developers are seeking sites for uses such as retail, service stations, fast food and health, while businesses are looking to own their premises.

Recent sales by Colliers include:

An industrial property at 112-126 Enterprise St, Bohle. The 2.21ha site includes 1050sq m of industrial buildings and is in the heart of the Bohle industrial area;

A modern industrial facility at 8-9 Hubie Taylor Place, South Townsville. The 9108sq m site features a warehouse with attached two-storey administration building, heavy wash down bay and separator, weighbridge, scales and fire pump and large bulk storage, handling and distribution facility;

Some prime development land fronting the Bruce Highway at Deeragun. The land at 9 Commerce Ave is within Townsville’s major residential growth corridor and offers a mix of commercial development opportunities; and

dual tenancy warehouse at 45 Plume St, South Townsville. The total building area 525sq m is configured as two similar sized tenancies. The️ CBD fringe location is close to the Palmer Street dining and accommodation hub and Queensland Country Bank Stadium.

Originally published as Demand for property driving Townsville market as investors hunt good deals