REVEALED: What's happening at this prime city site?
FOR almost five years, the former Tancred Foodworks site on Gladstone Rd, Allenstown has lay dormant.
But that could all change within weeks.
The 1550m2 property, which includes the large former Foodworks site, the Rocky's Burger Shack space and another retail site, could pass hands for only the second time in history when it goes under the hammer on March 30.
Listed for auction through Elders Real Estate Rockhampton, the high-profile property is gaining interest.
Elders' Virgil Kenny said the property offered endless opportunities.
"The vendors purchased the property and it has been leased out to different tenants over the years, there is one remaining tenant in Rocky's Burger Shack, but the premise is they have been waiting for an opportunity to bring it back into the market place," Mr Kenny said.
"It was an investment they made many years ago and it used to have exceptionally good returns. In recent times different people have approached them to carry on with different sorts of business.
"It has stayed dormant for some time but recently they have gone through and done some renovations, painted the property and have tidied it up and they feel this year they will move forward and put it on the market."
The property was the original home of Les Doblos Fruit and Vege before becoming Tancred Foodworks until it's closure in June 2012.
With about 30,000 vehicles passing the site every day, Mr Kenny said the property was in a fantastic location.
"There's not too many places on offer in any town that has a position like that," he said.
"There is exceptionally good parking and easy access to Gladstone Rd and the street behind and there is another triangle block that could be utilised for parking or development."
Mr Kenny said the auction marks the beginning of an expansion of Elders Rockhampton, revealing plans to venture into the commercial and residential markets.
"Traditionally we focus on rural property sales but I now have an assistant Jess Cunningham and together we are going to expand the business into residential and commercial," he said.
"This weekend we are launching it so people will start to see quite a lot of activity on the Elder Real Estate site.
"We are going to endeavour to give the people of Rockhampton what they ask for and try and deliver a quality service to them."
See Saturday's edition of The Morning Bulletin for an Elders Rockhampton lift-out.