Investor travels 1500km to bid for bargain Rocky homes
KEEN investors travelled to Rockhampton from as far as Canberra this week to bid for 10 Central Queensland properties which formed a deceased estate.
On Tuesday night, up to 60 people packed into the back of the McGrath Estate Agents Rockhampton office in East St for the in-room auction led by exclusive McGrath auctioneer Charles Higgins.
McGrath Estate Agents Rockhampton and Capricorn Coast principal Todd Brandon said bidding was competitive and successful.
"We had eight registered bidders in the in-room auction and had competitive bidding on four of the properties which was great," Mr Brandon said.
"None of the properties sold under the hammer but we reverted back to post auction negotiations on three of them.
"One of them has consequently sold and we are still negotiating on the others. I'd like to think we'll have an outcome on those before the weekend."
The property which sold was a 80ha block with two-bedroom home at 1382 Meissners Rd, Thangool. It was sold for $280,000.
Mr Brandon said the two other properties still in negotiation were a 1012sqm two bedroom home at 29 Medcraf St, Park Avenue and a three-bedroom, two bathroom home at 160 Housden St, Frenchville.
With property up for grabs from as low as $69,000, Mr Brandon said there was certainly plenty of interest from both locals and out-of-town investors.
"We had three families make a trip in from Thangool to see what transpired with a property on Meissners Rd, Thangool," he said.
"We also had a gentleman fly up from Canberra who has been seeing good value in the area and has actually bought, renovated and resold some property here already.
"Out of town interest at that level is exciting and people are recognising our little region as an area where they can have those wins in the property game and come out on top."
Despite the remaining seven properties not selling at auction, Mr Brandon said they were priced extremely well and he didn't expect them to stay on the market long.
"Pricing starts at $69,000 for a property on Lakes Creek Rd. It's an older home and probably a tradie's delight but nonetheless it's an amazing opportunity for someone to buy at that level and move forward," he said.
"We also have two properties down at the beach, Jack and Jill properties side-by-side at 8 and 12 Percy Ford St, Cooee Bay from $179,000.
"They have come out of the back of the auction campaign with some very attractive prices and it won't be long until we see all 10 sell."
Mr Brandon said the McGrath Estate Agents Rockhampton and Capricorn Coast team was keen to put together more in-room auctions in coming months.