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Add as a preferred source on Google More than 100 prospective buyers and investors have registered interest in a former Queensland mining town where houses have sold for as little as $75,000, with demand particularly strong for individual homes. The extraordinary response has come from everyone from bargain-hunting homebuyers to ASX-listed companies, with some groups eyeing the possibility of acquiring the entire township of Glenden, west of Mackay. An aerial shot of some of the facilities in the town of Glenden.
Image supplied. CBRE, which is managing a registration of interest process on behalf of the Queensland Government, has attracted “well over” 100 registrations, with interest spanning individual houses, larger property holdings and the entire portfolio. Selling agent Will Carman said the level of interest suggested there would be no shortage of buyers if the government decided to proceed with individual sales.
“When you’ve got a limited supply of homes across the nation like we do, if you carved it up into individual houses, it would be taken up,” he said. An aerial view of Glenden, Queensland, a former mining town. He said a couple of groups were exploring the possibility of acquiring the entire township, while both private and ASX-listed companies had expressed interest in larger holdings.
“There’s not many places in Queensland with 600 dwellings you could pick up,” he said. The interest has raised hopes of a remarkable second life for the former mining stronghold, which was once feared destined to become a ghost town. Built by Mount Isa Mines, now Glencore, in 1981 to accommodate workers at the nearby Newlands coal mine, Glenden’s population peaked at around 1800 in the early 1990s before dwindling to 477 by the 2021 Census.
But affordability could prove its biggest selling point. A house in the town of Glenden. Picture: Supplied.
According to public records, a house sold in Glenden for just $75,000 last year, while a three-bedroom property changed hands for $110,000 in January. Mr Carman said the township presented well and had an established layout and community infrastructure. “It actually presents well and is pretty well set out as a town and has a good feeling,” he said.
The portfolio comprises up to 571 homes, 42 vacant residential lots, eight development sites, two industrial lots and two commercial properties, including the Glenden Shopping Centre. Interested parties can register for individual properties, larger holdings or the entire portfolio. Queensland natural resources and mines minister Dale Last at Glenden.
Minister for Natural Resources and Mines Dale Last said the state government had undertaken extensive planning and infrastructure assessment work to find a practical path forward for Glenden. “The Registration of Interest process invites potential purchasers to put forward proposals that can help drive investment, create economic opportunities and contribute to the town’s long-term future,” he said. However, the Queensland Government has yet to decide whether any properties will be sold, with the registration process designed to gauge market demand and potential future uses.
Registrations close on Friday, October 30. Help us improve your reading experience Got a minute? Your feedback will help us build a better experience for you.
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Source: Real Estate
