A WELL-OILED campaign has seen an investor snap up a Supercheap Auto building in Mount Isa for $1,015,000 prior to auction at 86-90 Marian Street and 5 Ivy Street.
The asset, that came with a 6,670sq m* site area and 657sq m* NLA, had Supercheap Auto as a national long-standing tenant with a five-year lease recently renewed until 2024.
The property was marketed and sold by Ray White Commercial Gold Coast Sales Specialist Michael Willems.
Mr Willems said competition for the asset was fierce and it was another example of why auction was an effective method of sale for commercial sites.
“The auction campaign generates competition among potential buyers and if a purchaser wants the asset badly enough, it creates an environment where there’s less risk making a suitable offer before the auction takes place,” Mr WIllems said.
“The property represented a fantastic opportunity to purchase a quality income producing industrial investment in the heart of Mount Isa.