'Long-predicted boom has started'
BLOCKS of industrial land in Gracemere are selling at the rate of one a week prompting one real estate agent to declare the long-predicted boom has started and the scramble for bargain sites for factories and warehouses is in full swing.
Andrew Leach, of Ray White Rockhampton, said interest in the Gracemere Gateway Industrial Estate had exploded since Premier Anna Bligh turned the first sod on the $50 million overpass access over the Blackwater rail line alongside the Capricorn Highway last month.
"It's gone from hero to zero and although the prices make it one of the biggest bargains in Australia, the basics of supply and demand will mean that changes very soon," he said yesterday.
Until last month the industrial estate had been so neglected its original developer had gone bust.
The site is in the hands of the receiver and the selling price is just $65 a square metre for serviced lots.
"It's got to be among the cheapest industrial land in the country," said Andrew.
"But the announcement last month was the green light for action and activity breeds activity in this game.
"We're selling at least one block a week and the majority of inquiries are from local companies and investors who know what's about to happen."
Companies that have snapped up the land include those which service the mining industry, landscapers, mechanical workshops and transport firms.
"Given the level of inquiries and the speed of the change in interest, we are going to need more industrial land in Gracemere sooner rather than later," he said.
Divisional councillor Sandra O'Brien said despite the objections of some local landowners, the council was fully justified in seeking to expand the designated industrial zone in Gracemere.
"Half the land on this estate has now been sold inside a couple of months.
"The vast majority of people in the town want this."
- Gracemere estate selling quickly after years of no interest
- Serviced land selling at $65 a square metre
- Half the estate sold inside two months to companies servicing mining boom