Homes under hammer

More than 35 properties in Toowoomba head to massive auction

THE collapse of a Toowoomba company could be good news for the city’s potential home buyers and investors, with 37 properties going under the hammer.

Success Realty will auction off the houses, all in well-established suburbs of Toowoomba, as part of a mortgagee sale on February 2.

The properties were owned Downs Housing Company Pty Ltd to provide affordable accommodation. The company is believed to have been going through financial difficulties.

The majority of the houses have existing tenants, some of whom have been living there for many years.

Agent Daniel Harms said the listings offered investors a good opportunity, considering Toowoomba’s low vacancy rate.

“For buyers to invest, they’d have tenants in place, 32 of them. They will be sold as is, with tenants in place,” he said.

“(The company) owned 37 properties across Toowoomba, across different suburbs, like South Toowoomba, Centenary Heights and Glenvale.”

Mr Harms said Success Realty and the administrators were working with government departments to ensure tenants still had housing.

The auction will be held on February 2 from 10am at the Cellar Room at Picnic Point.

For more information about the listings or to register your interest, call Angela Harms on 0407 455 413.