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Rocky building sells for $8 million

COMMERCIAL property is being snapped up quickly in Rockhampton, as one of the most prominent office buildings in the city has sold for about $8 million.

The building on the corner of Fitzroy and East Sts was sold by CQUniversity to a Smith Brothers Investments in Longreach.

Knight Frank sales consultant Neale Crow said the group had bought the building as an investment.

"They can see from looking from Longreach back to Rockhampton and how good the economy really is," Mr Crow said.

Mr Crow said there were a number of other commercial buildings he knew of that were in demand.

"I think from a commercial sector there's a lot of other things going under contract and being sold," Mr Crow said.

"Office spaces are in demand and we've seen some mining companies that are looking to move into Rockhampton.

"We've seen overflow from Gladstone with companies looking for industrial land and office space as well and from the accommodation sector we've seen a push for rentals.

"Overall I think there's about 140 billion (dollars) worth of works in Central Queensland over the next five to 10 years."

Knight Frank

Commercial properties on offer in Rockhampton include:

8 Weaver St - a former motel building

Glenmore Shopping Village

59 Burnett St - A church and hall.  



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