Andersons site fetches $2 million

Press, 12 June 1986, Page 1

Andersons site fetches $2 million

By

SARAH SANDS,

property reporter

The Andersons Engineering site in Curries Road, Woolston, was sold yesterday for about $2 million. Mr Morgan Long, of Ford and Hadfield, Ltd, would not disclose the sale price but said it was a little under the valuation of $2,165,000. The buyer, who did not wish to be named, was likely to use the 15,400 sq m of buildings on the 10.5hectare site for storage, he said. The sjte was advertised as having excellent road access and a railway siding with “terrific potential for an industrial park development”

Mr Long said the property had been on the market since the engineering firm closed in February. It was listed with Ford and Hadfield only last week and was sold by Mr Long and another agent, Mr Bruce Owers, yesterday.

“It was a matter of finding the right buyer for that type of property.” Large sites such as the one in Woolston were in demand because people were becoming more concerned that GST would increase costs, said Mr Long. The likely drop in interest rates was also a contributing factor, he said.