Esplanade beachfront set to sizzle at auction
A BEACHFRONT property on the Esplanade is expected to fetch upwards of $700,000 when it goes under the hammer next week.
The current listing, which features two adjoining properties located at 435 Esplanade and 4 Fraser St, is directly opposite the Torquay foreshore.
Real Estate agency Burgess Rawson will put the property to auction on March 27 in Sydney.
Queensland Sales Director for Burgess Rawson Glenn Conridge said Hervey Bay's property market was drawing interest from southern investors.
"In the first two months of 2018 alone our buyers injected over $2.3 million into the local commercial property market, and I have no doubt these properties will attract competitive bidding at auction this month," Mr Conridge said.
"The property has uninterrupted views from upper levels so its future potential for high-rise development is significant."
It follows the agency selling Maryborough's Ultra Tune for $760,000 last month, The Seafront fast-food kiosk for $720,000 and an Elders/QBE commercial building for $860,000 late last year.
Mr Conridge said Hervey Bay had cemented a "strong appeal" among buyers in recent months due to the 3.1 million visitors the region attracted annually.
Last week, new property figures from the REIQ Queensland Market Monitor revealed the Fraser Coast property market reached its highest median house price in a decade.
Maryborough ranked the best-selling suburb in the region with an annual sale volume of about $200,000.