JM Kelly Richardson Road site to go to auction
For the first time since the liquidation of JM Kelly in 2018, its main warehouse at Richardson Road has been placed on the market.
An auction will be held next month with bids expected to be high.
The Rockhampton-based building firm went bust in October 2018, resulting in the loss of more than 200 jobs and owing creditors $50 million.
In January 2019, an auction was held by Pickles for the JM Kelly goods.
From the Richardson Rd workshop, office furniture and IT, refrigeration tooling and electrical, metal working machinery, light industrial tools and machinery, glass and aluminium machinery and tooling, shipping containers and portable buildings and construction equipment and materials was sold.
The Richardson Road site last sold in 1987 for $1.52 million.
In 2020, the land was valued at $1.3 million.
Knight Frank Rockhampton’s Neale Crow, representing the sale, said it was a significant offering given the size and the location.
“It’s a big facility on 4.79 hectares in the middle of Rockhampton, up to 5000sqm of space, there’s a fair bit of warehousing opportunity on a low impact zoning,” he said.
Mr Crow said the site had been sitting vacant since the closure while the liquidators had been going through the appropriate processes.
In the few days the facility has been on the market, Mr Crow said he had already received a handful of enquiries.
The property will be marketed for five weeks before the auction on April 21.
Pending COVID restrictions, it is expected there will be some phone bids and in-house bids at the auction.
The buyer could offer the warehouse area to up to four tenants as JM Kelly separated the space for various businesses.
“It could be a person who just wants to buy it and look for tenants and fill it up and turn it into a passive investment,” Mr Crow said.
“Because of the size of the land, there is potential for subdivision, pending council approval.”
Mr Crow said these sorts of sites did not come up very often at all, and given the booming resource industry in Central Queensland at the moment, it was expected to be snapped up.
“With what is happening in the area and the money that has been getting spent with Shoalwater Bay, the Ring Road, Rookwood Weir, there a lot of infrastructure projects going on and attracting a lot of people into town,” he said.
212 Richardson Rd, Park Avenue
4.79 hectares site, 768 sqm office complex, combined warehouse space of 4,295 sqm, wash down facilities on site
11am, Wednesday April 21, Rockhampton Leagues Club
Phone Neale on 0418 886 162