The million dollar property to test Mackay's market

INVESTORS' appetite for Mackay will be tested Tuesday, with a building that rakes in more than $600,000 a year in rent going to auction.

The "high profile architect designed CBD asset" on Victoria St has Suncorp, Maurice Blackburn Lawyers, SeaFM Radio and Northern Australia Primary Health Ltd as tenants.

Herron Todd White's Year In Review report stated the market was watching the property, which will provide an indication of the appetite of investors for large commercial assets in the area.

The building, at 123-129 Victoria St, is fully leased and has a net income of $605,052 pa according to the property listing by Burgess Rawson.

The auction will take place Tuesday at 9am in Sydney.

Burgess Rawson sales director Glenn Conridge said there had been a lot of interest from potential buyers of the building.

"A number of people are talking about the property and we have had some interest from Melbourne investors," he said.

"Because it has multi-tenancies a lot of the interested people prefer to deal with us after or before the auction.

"This is because they need to do more investigating work to get comfortable with it compared to single tenancy properties."

He said Burgess Rawson had had success in Mackay within the past nine months.

Originally published as The million dollar property to test Mackay's market