The large industrial site at 35 Ryan Road Mount Isa sold under the hammer at auction on Friday.
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The site formerly occupied by the NQ Group went to an unnamed bidder for $1,060,000.
The site is a freehold lease of 1.012 hectares of industrial land with a seven-bay 6m-high shed including storage, an office block and accommodation and a hardstand fenced yard,
The auction held at Ibis Styles, Mount Isa was held by Jays Real Estate and PWC under instructions from Derrick Vickers and Gregory Hall as receivers and managers attracted a handful of bidders and around dozen members of the public.
Jays principal Sophie Keily opened the session by reading out a list of 17 terms and conditions with GST
Auctioneer Nellie Smithurst opened the bidding with GST set at 10 per cent of the buying price.
There were at least three bidders represented over the phone and it was one of those phone bidders who eventually bought the property, with Sophie Keily relaying the bidder’s instructions to the auction.
Ms Smithurst said this was an opportunity did not come often and said today was the best opportunity to buy it.
Bidding opened at $800,000 from the room before the phone bidder raised it to $850,000.
The same two bidders raised the price before the room bidder dropped out at one million.
With the phone bidder in command at $1,000,020 Ms Smithurst left the room to seek instructions from the receivers and returned with a vendor bid of $1,000,050.
The phone bidder upped the ante to $1,000,060 and after further discussion this bed was accepted.
Ms Keily would not reveal the name of the bidder but was delighted with the result.
“This is a substantial sale and a wonderful outcome in our market climate,” Ms Keily said.
“There is a lot of infrastructure on the site.”
Ms Keily said that even if the new buyers leased it out, the property could offer 10-15 percent return on the sale price.
“This site could be a great opportunity for a business.”
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Derek Barry
Editor of the North West Star Mount Isa since January 2016. Prior to that, an editor at several regional southern Queensland newspapers. Passionate about telling local stories. Comes with a strange accent to due an Irish accident of birth.
Editor of the North West Star Mount Isa since January 2016. Prior to that, an editor at several regional southern Queensland newspapers. Passionate about telling local stories. Comes with a strange accent to due an Irish accident of birth.
