Interstate investors spending millions on Gympie properties
INTERSTATE buyers are showing an increasing interest in Gympie region properties and investing millions, which Harcourts Noosa owner and real estate agent Nathan O'Neill said was a good sign for local owners.
Mr O'Neil recently sold several commercial properties within Gympie to interstate investors for a total of more than $2.7 million.
He said there had been a stronger than normal interest from interstate investors, mainly from Sydney and Melbourne.
"They are starting to identify regional areas like this to invest in," Mr O'Neil said this week.
"Investors are looking here because the capital cities are not providing a return for them.
"This is good news for local owners as it drives up the property prices."
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Some of Mr O'Neill's most recently sold properties had high profile tenants, which was another draw for investors.
On April 2, 50-56 Mellor Street, home to Beaurepaires, was sold for $975,000 and 56 River Road was sold on March 31, for $1,278,000, both to Sydney investors.
Late last year 191 Mary Street, home to GJ Gardener, was sold for $510,000.