Gympie property sells for millions as investors eye Qld
WITH it's position on River Rd, easy access to the Bruce Highway and proximity to Gympie Central, the Shell/Coles service station is easily considered a prime piece of local real estate.
No one is more aware of this as real estate agent Michael Baker from Harcourts Noosa, who marketed and sold the property for a cool $5.04 million.
"It is the only Shell/Coles express service station in Gympie and is ideally located right near Gympie's busiest shopping centre,” Mr Baker says.
"Like groceries, whether we like it or not, filling up our cars is a staple of everyday life - a very defensive industry.”
According to Harcourts, the property was a hot ticket item for 'self-funded retirees and investor groups', with three offers made for the property.
Mr Baker says the property had a number of inherently attractive features, writing it, "offers it's new owners a stable and secure income stream with a yield very hard to find given the quality and type of asset on offer.”
The sale comes as the Queensland property market undergoes an influx of interest from interstate.
Harcourts went on to explain wealthy Sydneysiders, flush with cash after selling their homes, are looking to invest and buy heavily in the Queensland property markets.
The amount of money this shift represents is staggering - estimated to be hovering around $8.1 billion based on figures from Macquarie Bank.
"Sydney house prices are nearly double those in the other capital cities and job creation in Queensland is on the rise,” Macquarie wrote.
They expected 130,000 people would be making the trip in the next three years.