The asset has been leased by a joint venture of national construction companies to build and accommodate staff for the $983 million Fitzroy-Gladstone water pipeline project.

The land lease will be used for storage of materials required in the construction of the pipeline and may (STCA) contain an accommodation element for the workers.

The Rockhampton and Central Queensland region is benefitting from high volumes of federal and state government infrastructure grants, creating a thriving local economy.

Additionally, there is strong upside to the offering with its current DA approval to change the lot into 22 parcels of low impact industrial land with downstream infrastructure already in place.

Features:

• $252,334.30 pa net rent
• Jointly tenanted by national companies B.M.D. Constructions Pty Ltd and McConnell Dowell Constructors Pty Ltd
• Tenanted until 21 June 2025 with two (2) 6 Month options
• CPI rent reviews annually
• Bank guaranteed lease
• 11.59Ha* of freehold land
• DA approved for a reconfiguration from one (1) lot into twenty (22) lots
• Easy access to Capricorn Highway via Gracemere overpass
• Situated in growth region with a positive increase in GDP in the last three years
• Passive income stream
• Strong development upside

Contact Neale Crow