Vacant investment development draws southern buyers to Queensland
Staff ReporterDecember 7, 2020
The entire retail component of The Mill Central Precinct's first mixed-use development has been sold.
Brocke Hambrecht of the Ray White Commercial Northern Corridor Group managed the sale.
All units were purchased off-plan by southern investors.
The complex, comprising 28 residential units and five strata retail tenancies, is the first of its kind within the new Mill Central Precinct.
Ray White Commercial Northern Corridor Senior Investment Analyst Ashley Rees believed this was a sign of a new trend in commercial investment for the region.
Mr Rees said, "we expect to see more of this speculative investment into vacant properties.”
“Competition is just too fierce for the traditional secure investments," he concluded.