PERFECT POSITION PAYS OFF
A COMMERCIAL site perfectly positioned within the Fulham Rd Medical Precinct has sold for a record- breaking price.
40 Fulham Rd, which sits on a corner 801sq m block of land, is opposite the Mater Hospital’s Pimlico facility.
It sold last week for $ 680,000 to a Townsville com- mercial property developer. Selling agent Troy Townsend from Ray White Commercial said the property broke the record for the highest price per square metre of land in the medical precinct.
He said land in the area was at a premium due to the limited number of sites available near the Mater Hospital.
“It received $ 849 per square metre which is the highest rate In that area it’s a supply and demand issue and this one fronted Fulham Rd and it was on a corner with access from two streets, which helps with parking per square metre that the precinct has achieved,” Mr Townsend said. “In that area it’s a supply and demand issue and this one fronted Fulham Rd and it was on a corner with access from two streets, which helps with parking. CHRISTIE ANDERSON 4722 4451
“We ran an offer to purchase campaign which closed on March 23 and we had numerous disappointed buyers looking for something similar.”
There is a residential dwelling on the block of land, which will likely be demolished to make way for a commercial development.
There are approvals in place to build up to four storeys for uses such as allied health, child care or community uses. Mr Townsend said the sellers were determined to set a new level of value for sites in the medical precinct.
“They are selling their family home, which just happens to be in this precinct, to relocate to Airlie Beach,” he said.
“The sellers believed that this price level was achievable throughout the entire campaign.”