Two sites spanning 1.479 hectares in the Far North Queensland mining town of Weipa have come to market, offering a potential redevelopment opportunity to take advantage of the growing confidence in the region.
The two adjacent lots are situated on Commercial Avenue in the suburb of Nanum, in Weipa’s central district. The larger site which spans 1.133 hectares is partially improved sporting facilities ready for demolishment, and the smaller adjacent site that is 3,461 square metres is currently vacant.
Stacey Quaid, Managing Director of Colliers International Cairns is marketing the properties on behalf of the vendor in a Sale by Tender campaign closing Monday 27 June. The two titles are being sold as one parcel.
Mr Quaid said, “Currently there are no other known commercial sites in Weipa for sale, with the only other land nearby land-banked; it’s logical that development of additional retail will be a welcomed opportunity for retailers as well as the stable population and growing number of visitors who make the annual pilgrimage to Australia’s top. The seller’s interest is in seeing development take place, so preference will be given to developers wanting to commence construction as soon as possible.
“The site is walking distance from key local retail and hospitality businesses such as Woolworths, newsagency, sports store, post office, bakery, café and the caravan and camping park.
“This site is in a prime location to capitalise on what is an already expanding growth area. Recently we’ve seen the announcement of the new $40 million Bauxite Hills development by Metro Mining, which is set to commence in 2017 and create an additional 250 jobs in the region, and late last year Rio Tinto announced a $2.6 billion investment to expand its operations through the Amrun project.
“With the future for Weipa looking bright, plus limited competition and interest rates at all time low, the timing could be just right for development of Weipa’s newest shopping centre,” according to Mr Quaid.
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