Woolworths sells for $13 million on Fraser Coast

THE prime commercial building that houses Maryborough's Woolworths supermarket has sold under the hammer for $13 million.

Pat Kelly, principal of Burgess Rawson Queensland, which marketed the property, said there had been strong interest from a range of potential buyers, with the property ultimately sold to a Victorian investor.

"We had almost 100 inquiries from as far as Perth to Brisbane," Mr Kelly said.

"On the day we had some strong bidding both in the auction room and through our other state offices."

Mr Kelly described the sale price as "very good".

"It matched our expectations, which was a yield of six per cent," he said.

He said a free-standing supermarket such as the Woolworths building was highly sought after in the commercial market, as it was an easy to manage property with low risk.

"(Opportunities such as this) are very rare, they don't come up that often," he said.

"It's easy to manage with a single tenant, and there is very little risk of the tenant not performing and not paying the rent."

Woolworths has a lease on the property until 2033, and the company has previously said there will be no change to management or staff at the store, which employs 100 people.

Mr Kelly said just as the residential property market in Queensland was more affordable, so too was the commercial sector.

"That's one of the reasons it's very attractive to interstate investors."



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