Case Studies

81, 83 & 85 Barney Street & 44 Wood Street, Barney Point, Gladstone

An amalgamated landholding, located on the Central Queensland Coast, within the established regional centre of Gladstone.

The sale comprises four (4) adjoining properties, which form an 8,190m2 regular shaped corner site zoned “Medium Density Residential”. The site is improved with a number of buildings, all of which are considered to have minimal added value. Gladstone is situated on the Central Queensland Coast, being located approximately 550 kilometres north of Brisbane.

Gladstone is a key regional centre, being home to 65,000 people, and acts as a gateway to the resource rich surat/bowen basins and Great Barrier Reef. Barney Point, is an established suburb of Gladstone, being located 3 kilometres east of the Gladstone CBD, and bounded by the Coral Sea to the east. The site is located on Barney & Wood Streets.

The property was offered to the market under instructions, from Receivers & Managers, via a 6 week campaign, which closed on Tuesday 13 December 2016.

At the completion of the campaign, 12 enquiries were received, and a
total of 2 offers to purchase were put forward. The level of enquiry and offers received is reflective of the revailing soft market conditions in Queensland’s regional centres. At the time of the sale there was a very high level of rental vacancy in Gladstone in addition to sale stock on the market, placing downward pressure on pricing.

The successful purchaser was a locally based investor.

Sales Analysis
Vendor:Receivers and Managers -McGRathNicol
Method of Sale:Expressions of Interest
Marketing Timeframe:6 weeks
Marketing Budget:$15,634
Total Enquiries:12
Total Offers Received:2
Sale Date:December 2016
Sale Price $4000,000
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