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Rockhampton Hostel Sale
Wednesday, November 12, 2008
A 90-room hostel in Rockhampton has sold for close to $935,000 in a deal negotiated by Ray White Commercial agents Marcus Knapp and Rob Delmenico.
The 2,000m2 building, known as ‘Pete’s Place’, was sold earlier this month after being passed in at auction in November. The property was bought by a Rockhampton investor who already owns several boarding homes throughout Rockhampton and Queensland.
Selling agent Rob Delmenico of Ray White Commercial Rockhampton said the marketing campaign had attracted significant interest both locally and throughout Australia, with the property marketed extensively in the Courier-Mail, Australian Financial Review and local media.
Significant in size and with strong visual appeal, the sale of the property had attracted considerable local media attention.
Mr Delmenico said that despite the sale, the commercial market in Rockhampton had toughened up significantly in the past month. Investors were now taking a step back compared to three months ago, when selling activity was still reasonably strong.
Despite this, Mr Delmenico said leasing activity was significant, and there remained many attractive commercial properties available for canny investors.
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