Masters site sold for $1.275m
THE former Gympie Industrial Estate headquarters of Masters Engineering went under the auctioneer’s hammer in Gympie yesterday for $1.275 million.
Greg Waters and Brian Learoyd, the people behind the innovative Gympie business, Performax Queensland, were the buyers.
Agent Glen Grimish, of CB Richard Ellis, said the 8000sq.m site included just over 2000sq.m, or about half an acre, of industrial buildings.
Mr Waters said yesterday that the firm, formerly known as Corvette Queensland, had started as a two-man partnership with Mr Learoyd and grown to an operation which now employs 60 people and performs about 80 per cent of all conversions of American vehicles to right-hand-drive in Australia.