Prime highway development site hits market for $1.519M
A SUITE of properties adjacent to Browne Park on the Bruce Highway are listed for a $1.519 million multi-sale, marketed as one of the largest corner developments in Rockhampton.
The listing includes six properties, five of which have houses and one vacant block which was demolished last year.
The site, from 63-65A George St and 28-35 Cambridge St, is 3367 sqm with 66.9m of frontage to the Bruce Hwy.
The close proximity to the popular Rockhampton Leagues Club and prime exposure to the highway creates the perfect position for a development.
A couple of the properties had been on the market for a while and real estate principal Kas Woch approached the owners of surrounding properties about whether they were interested in selling.
The multi-sale includes five different owners and would include five separate contracts with each contract subject to the other contracts.
At the price of $1.519 million, it works out to be $450 per square metre, which Mr Woch said was in line with sales along the highway.
Just down the road, the United Service Station on the corner of Alma and Albert St, sold immediately after auction in April 2019 for $4.7 million.
The fuel station and convenience store was built in 2018 by the Gibb Group.
Mr Woch said combining the George and Cambridge street properties together offered more opportunities to a buyer.
“A potential developer has more scope than just a 500 sqm block or 1000 sqm, it just gives the option of larger area,” he said.
Mr Woch said the site would be one of the last corner blocks left on the highway in Rockhampton.
“In real estate we say traffic employs customers and there is only a limited amount of highway frontage left,” he said.
The entire swag of properties were listed together about a month ago and Mr Woch has had some interest but no offers at this stage.
Property 1 – 63 George St
High-set weatherboard home with a pine interior.
Land area of 674 sqm and a frontage of 13.4m with rear lane access.
The two-bedroom, one-bathroom home is presently rented and was last listed for rent for $195 per week.
The property last sold in 2016 for $175,000.
It is for sale for $295,000.
Property 2 – 65 George St
The high set weatherboard colonial home has a pine interior and open verandahs.
It has a land area of 674 sqm and a frontage of 13.4m plus a rear lane access.
It last sold in 2006 for $215,000.
It is for sale for $295,000.
Property 3 – 65A George St
High set cavity brick home with a plaster interior and a tiled roof.
The land area is 402 sqm and a frontage of 20 m.
The property hasn’t changed ownership since 1994, when it was transferred to next of kins following a death.
It is for sale for $239,000.
Property 4 – 34 Cambridge St
This property was removed in August 2019 as it was dilapidated.
The vacant corner allotment has a land area of 402 sqm and a frontage of 20.1 m to the Bruce Hw295 and 20.2m to Cambridge St.
It was bought by Rockhampton Leagues Club in 2006 for $230,000.
It is for sale for $240,000.
Property 5 – 30 Cambridge St
This property is set on two lots with a total land area 810 sqm and a frontage of 20.2m.
The large, high-set weatherboard colonial home has a pine interior.
It was last sold for $202,000 in 2005.
It was listed in 2014 for rent for $240 per week.
Property 6 – 28 Cambridge St
This property was bought by the same owner of 28 Cambridge St for $250,000 in 2006.
The high-set weatherboard home with a pine interior has a land area 405 sqm and a frontage of 10.1m to Cambridge St and 40.2m to Campbell Ln.
It was listed for rent in 2007 for $180 per week.
Properties at 28 and 30 Cambridge St are being sold together for $450,000.