In a recent move that underscores growing investor confidence in Central Queensland’s commercial real estate market, Mackay City Property Developments has acquired a large-format retail property in the bustling bulky goods precinct of Paget, near Mackay.
The transaction, brokered by
Mr. Mark Kelly of Gardian Commercial Sales and Leasing, saw the property at
181–195 Maggiolo Drive change hands for a cool
$10 million.
This deal marks a significant milestone for both buyer and seller, with strong tenant occupancy and promising vacancy potential making it an attractive passive investment opportunity.
📍 Key Details of the Sale
Purchase Price: $10,000,000
Location: 181–195 Maggiolo Drive, Paget, Mackay
Sale Method: Private Treaty
Selling Agent: Mr. Mark Kelly, Gardian Commercial Sales and Leasing
Yield Achieved: 6.3% (based on current occupancy and remaining vacancy)
🏢 Property Overview
Total Site Area: 8,533 sqm
Building Area: 4,800 sqm
Current Occupancy Rate: 78%
Remaining Vacant Area: 1,049 sqm
The property is currently leased to a mix of well-established tenants, including:
According to Mr. Mark Kelly, the buyer was drawn to the asset immediately due to its prime location, solid tenancy base, and upside potential from leasing up the remaining space.
💡 Strategic Passive Investment
“This was a straightforward decision for the buyer,” said Mr. Mark Kelly. “They were impressed by the existing tenant profile and the immediate income yield. The remaining vacancy also presents a clear value-add opportunity.”
He added that the property had already begun attracting interest from prospective tenants even before settlement.
“We’re getting numerous approaches to lease the space,” he noted, suggesting strong demand for commercial space in the area.
🕰️ A Legacy Asset
Originally developed by the vendor 14 years ago, this property has stood the test of time as a reliable income-generating asset. Its sale signals a shift in ownership but not necessarily in management or operation, given the new owner’s intention to hold long-term.
📈 Market Outlook
The acquisition reflects broader trends in regional Queensland, where investors are increasingly turning their attention to well-located, income-producing assets with stable cash flow and manageable risk profiles.
With Mackay’s economy continuing to grow—driven by mining, agriculture, and infrastructure—the region remains a hotspot for both developers and passive investors alike.
🔍 Why This Deal Matters
Demonstrates continued investor appetite for Central Queensland commercial property
Highlights the appeal of bulk retail precincts like Paget
Shows how existing vacancies can be leveraged for higher returns post-acquisition
Reinforces the role of private treaty sales in securing quality assets discreetly
📣 Final Thoughts
As Mackay continues to evolve into a key industrial and commercial hub in North Queensland, properties like this one at Maggiolo Drive, Paget offer compelling opportunities for savvy investors.
Whether you're looking to invest passively or develop actively, this sale serves as a benchmark for what’s possible in today’s dynamic property market.
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