This article is from the Australian Property Journal archive
A QUEENSLAND sugarcane farmer has expanded their industry footprint, picking up a 43.17-hectare Woongoolba property for $1.51 million, some 40% above the reserve.
CBRE’s Simon Cudmore and Chris Holgar managed the auction campaign for 75-101 Cooks Road, which is split across two freehold landholdings and has a lease agreement in place until December.
The auction, held at the Woongoolba Hall, attracted five registered bidders and was sold to A. Keith & Co Pty Ltd, which owns several sugarcane farms in the vicinity, in addition to a mulching business.
Cudmore said the strong result highlighted the investment appeal of this tightly held region.
The property is around 34km from the Gold Coast, and offers dual road frontage to Cooks Road and Loves Road, and is located nearby the Rocky Point Sugar Mill.
Australian Property Journal
