‘Fantastic’ Rocky investment going to auction
ROCKHAMPTON’S Fantastic Furniture will soon have a new landlord.
The showroom on 143 Gladstone Road will be sold at auction next month by realtor Burgess Rawson.
Selling agent Simon Staddon said that since Fantastic Furniture was on a 10-year lease, the building was a secure “set and forget” investment, likely appealing to a wealthy person or entity from Melbourne, Sydney, or Brisbane – a “high net worth eastern seaboard investor”.
“This is certainly an investment that ticks most boxes,” he said.
Fantastic Furniture’s lease lasts to late 2029, and Mr Staddon said the property makes more than $500,000 net each year.
It is currently owned by a private Sydney investor.
Burgess Rawson sales director Glenn Conridge said Rockhampton’s property market was experiencing year-on-year growth and attracting investors south of the border.
“Strong regional investments in high-growth regions like this are hard to come by, especially sites neighbouring the likes of ALDI,” he said.
“Rockhampton is an established regional city, which attracts interest from astute buyers nationally, but particularly those in Victoria and New South Wales seeking a long-term reliable investment at strong value that only regional Queensland cities are known for.”
The Rockhampton building will go under the hammer at Burgess Rawson’s Flagship Portfolio Auction from 11am on Tuesday, August 4, at Sydney’s Doltone House.
Interested buyers can also go to Burgess Rawson’s Brisbane boardroom or bid over the phone.