FOR THE first time in over 100 years, land is about to be released at Mt Morgan.
The Morning Bulletin can exclusively reveal Grays Online will host its first online auction of land next week with 15 unreserved lots being released by a local developer in conjunction with Carbine Resources' announcement the Mt Morgan Gold Mine will reopen early this year, creating up to 200 local jobs.
READ MORE HERE: Central QLD gold mine set for start in 2017
Rockhampton Real Estate principal Vince Agius, who is handling the auction locally, said the one-in-110 year event held exciting prospects for Mt Morgan and the wider region.
"I have worked the Mt Morgan market for quite a few years and have seen the market both increase and drop off," Mr Agius said.
"What we are currently seeing now is the first major land release in Mt Morgan for over 100 years," he said.
"With the gold mine looking very positive for reopening and with Rockhampton Regional Council taking over the township we are seeing quite a few changes to the infrastructure up there in regards to the sewerage, the main street, the playground and dam area; it's all looking pretty good.
"We're feeling this is going to attract quite a few investors which would be great for Mt Morgan and the Rockhampton and Gracemere areas as well."
Mr Agius said the Grays Online land auction would be unique in that buyers could bid on properties for as long as a week.
"The first release we're running is the first time we've seen online auctions with land," he said.
"Instead of just running an auction for half an hour like we normally would, the auctions will be starting on January 31 and running live for up to seven days.
"That's great because quite often we have people that arrive at an auction late or forget about an auction and they miss out.
"This way they get the opportunity to go online and bid online."
With land lots from 809sqm to 1012sqm located within three minutes of the Mt Morgan CBD and available at a great price, Mr Agius said it was the perfect opportunity for investors and locals to buy land and potentially build homes.
"I think it is an absolutely great opportunity. There is nowhere else you are going to be able to purchase land so close to Rockhampton's facilities, including the airport," he said.
"Speaking with the developer we have decided to give this a go to try and give everyone the opportunity to break into the market.
"I'm feeling really positive about it."
Mr Agius said 15 lots would be released initially, with potentially another 75 lots to follow.
"The first 15 lots we are releasing are unreserved. That is a big bonus for anyone out there that is looking to get into the market at the moment," he said.
"After the first 15 sell we will re-evaluate the rest of them and I feel they will follow on quickly afterwards.
"It will be a case of first in, best dressed, because once the first 15 go, if it's as successful as we think it might be, we'll run the others in a similar fashion and gauge them as they go."
Mr Agius said the developer behind the release was a local who had owned the land for a long time and had been waiting for the right time to move forward.
"They are well aware of the area and have done quite a lot of business in the area," he said.
"It's not like we are getting someone from overseas who just wants to hit once and disappear.
"They have been waiting for the market to turn, which we are starting to see right across the board."
With growing interest from investors in the Mt Morgan market combined with a surge in infrastructure funding from RRC, Mr Agius said the historic town was perfectly positioned for a long-awaited kick-start.
READ MORE HERE: Rockhampton Council announces $10M in priority projects
Overall, Mr Agius said there were positive signs across the entire region in real estate.
"Across my three offices I am starting to see a lot more inquiry from southern investors and in general with sales across Rockhampton, Yeppoon, Mt Morgan and Gracemere things are starting to move," he said.
"I think this is just the tip of the iceberg; I think we are going to have a good year in real estate and there are a lot of good purchases to be had.
"My Yeppoon office is telling me they are getting investors looking at the mid to high range and we haven't seen that for three or four years.
"Everyone in business has felt the pinch over the past three years but I think we have reached the turning point and are going to have a good year this year."
The online land auction will begin at 2pm on January 31 with final bids lodged at 8pm, February 7.
To participate, click here.
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